Agenda - 02-16-2021; 8-g - Approval of a Resolution Authorizing a Revision in the Resolution Adopted April 21, 2020 That Authorized the Orange County FY 2020-2021 HOME Program Design

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1 ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: February 16, 2021 Action Agenda Item No. 8-g SUBJECT: Approval of a Resolution Authorizing a Revision in the Resolution Adopted April 21, 2020 That Authorized the Orange County FY 2020-2021 HOME Program Design DEPARTMENT: Department of Housing and Community Development ATTACHMENT(S): INFORMATION CONTACT: Attachment 1: Mark-up Resolution Emila Sutton, Director, Housing and Authorizing a Revision in the Community Development, (919) 245- Resolution Adopted April 21, 2490 2020 That Authorized the Orange County FY 2020- 2021 HOME Program Design Attachment 2: Clean Resolution Authorizing a Revision in the Resolution Adopted April 21, 2020 That Authorized the Orange County FY 2020-2021 HOME Program Design PURPOSE: To approve a revision in the resolution adopted April 21, 2020 that authorized the Orange County FY 2020-2021 HOME Program Design. BACKGROUND: Several revisions to the resolution to approve the project activities for the 2020- 2021 HOME Program, adopted by the Board on April 21, 2020, are proposed due to project changes and funding source requirements. The first revision is to the award of $94,138 to Habitat for Humanity of Orange County (Habitat) to provide deferred payment, zero interest second mortgages for three (3) homes in the Fairview Community in Hillsborough and Northside Neighborhood in Chapel Hill. Habitat has determined that it will be able to assist more than three (3) homebuyers with the allotted funds. As such, it is requested that the language be revised to read "at least three (3) homes." The second revision is to the award of$200,000 to CASA to provide gap financing for a forty-eight (48) unit rental development on Merritt Mill Road. CASA has determined that it no longer requires