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3 <br />Orange County Affordable Housing Bond Program <br />Semiannual Project Progress Report <br />Report period ending June 30, 2003 <br />Project Sponsor: EmPOWERment, Inc. <br />Project Type: Homeownership <br />Income Targeting: Below 80% of area median income <br />Project Address: Pine Hill Drive - Carrboro, NC <br />Program Accomplishments: Four (4) townhomes -Three bedrooms and two baths <br />BOND AWARD HISTORY <br />In December 1999, $90,000 in bond money was awarded to EmPOWERment's Pine Hills project. The four (4) <br />unit project was completed in June 2001; 15 months after the signed Development Agreement. <br />CIARY INFORMATI <br />Address Family Size Family Income % Median Racial <br />Cate or Subsidy Amount <br />Pine Hill Drive 1 $30,756 71 % White $20,000* <br />Pine Hill Drive 1 $24,365 60% White $22,500 <br />Pine Hill Drive 1 $21,477 49% Black $22,500 <br />Pine Hill Drive 2 $27,823 56% White $22,500 <br />* Property was secured at $20,000 instead of $22,500 as required by the Development Agreement. Thus, <br />EmPOWERment, Inc repaid the County $2,500 in bond funding in 2001. <br />** Please note that this report was submitted late and incomplete. <br />