Agenda - 10-02-2001-8f - Laserfiche WebLink

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x Eligible applicants to receive footling under this program are owner-occupants wish incomes below 50%of [he area metlian Income. Atltll[ionally, assistance may not exceetl $3,500 in har0 costs per dwelling unit; thus, it is estimatetl that $]5,000 will assist approximately 25 homeowners. Specifc eligibility antl prior'M1y standards For selection of participating units are detailed in the atlechad Assistance Policy that must be approved by the Boertl of Commissioners. The Agency is requesting that applications be submided and executed by the Chief Adminlstrative ORCial of [he judstlimicn or the County Manager by October 12, 2001. There is a $50 application fee for each progmm application After reviewing [he appllcatlons, the N.C. Housing Finance Agency expects to announce conditional awaros in January 2002. FINANCIAL IMPACT: Approximately $]5,000 in Housing Trost funtls is appropdatetl for the County's Urgent Repair Program in the FV 2001-2002 Budget Thia application represents iha opportunity to access en additional $75,000 forour local program. Additionally, the progmm tloes provide funtls for adminletrative support ranging from $150 to $450per house depending on the repair costs per dwelling. These funds can supplement our existing administrative budget RECOMMENOATION($): The Manager recommentls: 1. Approving the aubmisalon of an Application for Footling to the N.C. Housing Finance Agency for approximately $]5,000 in funding for the local Urgent Repelr Program authorizing the County Manager to submit the application on behalf of the County; antl 2. Approving the Assistance Policy a ociated with the Urgent Repair Program and authorize the Chair of [he BoaN to sign the policy tlocumeM.