RES-2021-058-Resolution Authorizing the Orange County FY 2021-2022 HOME Program Design

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RES - 2021 -058 J-,j Attachment 1 RESOLUTION AUTHORIZING THE ORANGE COUNTY FY 2021 -2022 HOME PROGRAM DESIGN BE IT RESOLVED , by the Orange County Board of Commissioners , as a member of the Orange County HOME Consortium, that the Commissioners approve the following activities for the FY 2021 -2022 HOME Program , Homebuyer Assistance Funds will be allocated to Orange County Habitat for Humanity to provide deferred payment zero interest mortgages to an estimated fifteen ( 15 ) homebuyers in the Fairview Community in Hillsborough earning between thirty percent (30 %) and eighty percent ( 80 %) of the area median income . (The final number of homebuyers assisted may be more or less than 15 and will depend on homebuyer underwriting . ) (Requested amount. $450, 000) $ 434 ,393 Rental Construction Funds will be allocated to Pee Wee Homes to finance construction of three (3 ) small rental units at 106 Hill Street in Carrboro . Units will be leased to households experiencing homelessness and earning less than thirty percent (30 %) of the area median income . (Requested amount. $ 100, 000) $ 1009000 Predevelopment Loan Funds will be allocated to EmPOWERment, Inc . for acquisition of a duplex containing two (2 ) units at 706 Gomains Avenue in Chapel Hill . Units will be leased to households earning less than ] ° six percent (6- 0 % ) of the area median income . (Requested amount: $ 105) 000) $ 1059000 Program Administration $ 379874 BE IT FURTHER RESOLVED , that the County Manager is hereby designated as the authorized representative of the County to act in connection with the HOME Program 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 , 2021 r %% Renee Price , Chair , Orange County Board of Commissioners qq ilk 17z LrS1' •' � LL SEAL , ' ' �