RES-2021-011 Resolution Authorizing a Revision in the Orange County FY 2020-2021 Home Program Design

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r 'I i RES- 2021 - 011 Attachment 2 RESOLUTION AUTHORIZING A REVISION IN THE ORANGE COUNTY FY 2020 -2021 HOME PROGRAM DESIGN BE IT RESOLVED , by the Orange County Board of Commissioners as the lead entity of the Orange County HOME Consortium approves the revisions in the Resolution adopted April 21 , 2020 to allow for more than three (3 ) homes to be assisted through the Homeownership Assistance activity; to remove the award allocated to CASA for Rental Developments and to revise the language in the award to EmPOWERment, Inc . to read " development loan" rather than "predevelopment loan" , such that the FY 2020 -2021 HOME Program Design reads as follows in its entirety : Homeownership Assistance Funds will be allocated to Orange County Habitat for Humanity to provide deferred payment, ;, zero interest second mortgage for at least three (3 ) homes in the Fairview Community in Hillsborough and the Northside Neighborhood in Carrboro . Homes will be sold to households earning between thirty percent (30 %) and sixty percent (60 %) of the area median income . (Requested amount: $390, 000) $ 949138 1 Development Loan Funds will be allocated to EmPOWERment, Inc . as a development loan for a proposed rental development with eight ( 8 ) to ten ( 10) units on Johnson Street in Carrboro . Units will be leased to households earning between thirty percent (30 %) and eighty percent ( 80 %) of the area median c income . (Requested amount, $200, 000) $ 569228 Program Administration $ 379485 BE IT FURTHER RESOLVED , that the County Manager is hereby designated as the authorized representative of the County to act in connection with the submission of this plan and to provide such additional information as may be required by the U . S . Department of Housing and Urban Development . This is the day of ( „u , 2021 ly- Renee Price , Chair h '.. y l4 Orange County Board of Commissioners SEAL ; � 4