Orange County NC Website
DocuSign Envelope ID:847BA5A1-CA01-4305-A31D-3C3DABB304E8 <br /> NORTH CAROLINA <br /> ORANGE COUNTY <br /> DEVELOPMENT AGREEMENT <br /> This is an AGREEMENT between ORANGE COUNTY, a local governmental political <br /> subdivision of the State of North Carolina, (hereinafter referred to as the "County") and Habitat <br /> for Humanity, Orange County,N.C., Inc., a North Carolina housing organization (hereinafter <br /> referred to as "the HOME Awardee"). The effective date of this Agreement is February 19, 2021. <br /> WITNESSTH <br /> WHEREAS, the Orange County HOME Consortium has designated $94,138 in FY 20- <br /> 21 HOME funds to provide funding for second mortgage assistance for at least three (3)homes <br /> located in Orange County, specifically homes in the Fairview Community in Hillsborough and <br /> the Northside Neighborhood in Carrboro, which are hereinafter designated collectively as "the <br /> Property" or"the Properties"; and <br /> WHEREAS, Orange County is the lead entity of the Orange HOME Consortium, so <br /> designated in an agreement dated July 1, 2011, and as such is the lead entity in a representative <br /> capacity for all members of the Orange HOME Consortium for the purposes of carrying out the <br /> HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable <br /> Housing Act(Pub. L. 101- 625), (42 U.S. C. 3535( d.) et. seq.) (hereinafter referred to as the <br /> "Act"), and as further defined in the Federal Program Requirements provided by the U.S. <br /> Department of Housing and Urban Development; and <br /> WHEREAS, the HOME Awardee is constructing the housing units on the Properties for <br /> first-time homebuyers earning between 30% and 60% of HUD area median income described in <br /> the HOME Awardee's FY 20-21 Application for Funding, Orange County HOME Program <br /> dated, February 14, 2020, which is hereby incorporated into this Agreement as if written herein, <br /> and hereafter referred to as "The Project."A copy of the HOME Program Applications are on <br /> file in the office of the Orange County Housing and Community Development Department; and <br /> WHEREAS, the HOME Awardee intends to assist at least three (3) first-time <br /> homebuyers, who earn between 30% and 60% of HUD area median income, to purchase the <br /> housing units at the Properties; and <br /> WHEREAS, a first-time homebuyer for the purposes of this program is defined as any <br /> low income household that has not owned a home within the past three (3) years including <br /> households living in manufactured housing not permanently affixed to a foundation, or owner- <br /> occupants of homes not feasible for rehabilitation and has lived or worked in Orange County for <br /> at least one year prior to the home purchase; <br /> WHEREAS, notwithstanding any provision of this Agreement, the County and the <br /> HOME Awardee hereto agree and acknowledge that this Agreement does not constitute a <br /> commitment of funds or site approval, and that such commitment of funds or approval may occur <br /> 1 <br />