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5 <br /> BACKGROUND: In the fall of 2016, Orange County voters passed a $5 million Affordable <br /> Housing Bond. Half of the bond funds ($2.5 million) were awarded in 2017. The 2020 <br /> application cycle is for the remaining $2.5 million of the bond funds. <br /> Eligible projects are new construction and/or rehabilitation for homeownership and/or rental <br /> development affordable to low-income households. Projects may be mixed-use and/or mixed- <br /> income. No more than 20% of residential units may be set aside for people with disabilities, in <br /> compliance with best practices outlined in the State of North Carolina's Olmstead settlement <br /> agreement. Land banking is not an eligible use. <br /> Eligible applicants for funding are: nonprofit organizations involved in affordable housing and <br /> community development (including faith-based organizations), for-profit developers, and joint <br /> ventures between eligible nonprofit and for-profit entities. <br /> The application evaluation scorecard (see Attachment 1) considers the following factors for <br /> each proposed project: (1) income and vulnerable population targeting, (2) targeting of <br /> households currently living and/or working in Orange County, (3) leveraging of other funding <br /> sources, (4) building and site design, including environmental sustainability and accessibility <br /> features, (5) community design, including neighborhood compatibility and location, (6) <br /> community sponsorship, engagement, and support, (7) project feasibility, and (8) developer <br /> experience. <br /> The application cycle opened on June 8, 2020 and closed on July 31, 2020. Four applications <br /> were submitted, summarized below and in Attachment 2. <br /> Weaver's Grove (Habitat for Humanity): $817,080 <br /> Community Partners: N/A <br /> Funds will be used to assist with infrastructure and site improvement costs for Weavers Grove, <br /> Habitat's future development of 100 affordable homes off of Sunrise Road in Chapel Hill. Habitat <br /> also plans to sell 136 finished lots to market-rate builders to develop entry-level homeownership <br /> opportunities. The project's vision is to create a thriving, mixed-income community of homes <br /> that are aesthetically pleasing, architecturally integrated, and energy efficient. This would be the <br /> first affordable housing development in this section of Chapel Hill. <br /> Chase Park Apartments Stairwell Rehabilitation (InChuCo): $165,840 <br /> Community Partners: N/A <br /> Funds will be used to make critical repairs to 8 elevated stairwell landings between the upper <br /> levels of the 4 residential buildings at Chase Park Apartments, a 45-year old complex home to <br /> 40 affordable units. The stairwell landings require immediate attention because of their <br /> deteriorated condition. Further, heavy rainfall from Hurricanes Michael and Florence damaged <br /> the road and now the creek-side lane is closed. However, HUD will not endorse a loan to repair <br /> the only road into and out of the complex until the stairwell landings are replaced. The <br /> complex's estimated remaining useful life is estimated to be at least an additional 40 years <br /> barring any natural disasters <br /> PEACH Apartments (EmPOWERment, Inc.): $700,000 <br /> Community Partner(s): Pine Knolls Community Center <br /> Funds will be used to construct 8 affordable rental apartments in the Northside Neighborhood <br /> Conservation District at the location of the former Pine Knolls Center. This project will produce a <br /> mixed-income, multigenerational apartment building that will honor the historical culture of this <br /> neighborhood. <br />