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,1,0 <br />Orange County <br />Housing and Community Development <br />Date: October 27, 2003 <br />To: Orange County Board of Commissioners <br />From: Martha Hoylman, Chair <br />Affordable Housing Advisory Board <br />Subject: Semi-Annual Housing Bond Program Report <br />The Orange County Affordable Housing Advisory Board is pleased to present to <br />the Board of County Commissioners this first Semi-Annual Housing Bond Program <br />Report as required by the Orange County Housing Bond Policy adopted by the Board in <br />October 2002. <br />This report covers the period from program inception to June 30, 2003. Attached <br />is a summary table of all 1997 Bond Projects followed by individual program summaries <br />projects completed and those underway. You will note that the following projects have <br />not commenced to date -Club Nova Apartments; Transitional Housing for Public <br />Housing; and Rusch Hollow. A report of the current status of these projects is included <br />as well. <br />As you will note, there is approximately $352,500 in uncommitted funds available <br />from the 1997 Housing Bond Program due to the return of funds previously committed to <br />Orange Community Housing and Land Trust for the Meadowmont Project as well as <br />$2,500 from the EmPOWERment Pine Hill Drive Project. The Advisory Board <br />recommends that these uncommitted funds be added to the Land Banking Fund <br />established from the 2001 housing bonds. There is presently $260,000 in 2001 housing <br />bond funds reserved for land banking and the addition of these funds would bring the <br />total available to $ 612,500. <br />If you have questions, please feel free to contact us. The Advisory Board looks <br />forward to continuing to work with you to address the affordable housing challenges in <br />our community. <br />