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Housing Sond Project_Sumrnary_ <br />Applicant: <br />EmPOWERrnent, Inc. <br />Project Title: <br />Land Acquisition Fund <br />Request for Bond Funds: <br />$250,000 <br />Total Project Costs: <br />$250,000 <br />Bond Fund Leverage: <br />100°/a bond funds <br />Project Description: <br />The non-profit affordable housing developers in Orange County are applying for funding <br />for a land acquisition fund of $250,000 that .would increase their ability to provide <br />homeownership and rental opportunities to low and moderate income residents. The fund would <br />allow EmPOWERment, Inc., Orange County Habitat for Humanity, Orange Community <br />Housing Corporation, the Community Land Trust, and any other non-profit developer that abides <br />by Orange County regulations access to the funds to purchase properties suitable for developing <br />affordable housing. <br />Target Population/Projected Outcome: <br />Families that are in the 50% to 80% of median annual income category <br />Bond Committee Recommendation <br />The Bond Committee does not recommend this project for funding at this time due to the <br />incompleteness of the submitted funding proposal. <br />