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2 <br />On December 5, 2QQ3, the County received notification of the approval of 24 project-based <br />vouchers for the proposed Club Nava Apartments (See Attached Letter). It is important to note <br />that the designation of existing vouchers as project-based vouchers will be done from our <br />existing voucher pool and does not represent a new allocation of vouchers. <br />Thus, in order to provide these vouchers, the County must execute an Agreement to Enter into <br />a Housing Assistance Payments Contract, Parts I and II, in addition to providing the HUD office <br />with a Cost Certification as well as a Design Certification. The developers of Club Nova have <br />been anxiously awaiting this decision in order to finalize the construction financing for the <br />project, thus work will begin immediately to satisfy HUD's requirements. County staff and the <br />County Attorney will be working with the project sponsor in the next thirty days to finalize the <br />required HUD Agreement. A copy of the form of the Agreement is attached to this abstract as <br />additional information. <br />FINANCIAL IMPACT: The program will be financed by the current Section 8 Housing Choice <br />Voucher Program. <br />RECOMMENDATION(S): The Manager recommends approval of the execution of the <br />Agreement to Enter into Housing Assistance Payments Contract, Parts I and II, with the Club <br />Nava Apartments, LLC for the proposed Club Nava Apartments in Carrboro upon the review <br />and approval of the County Attorney. <br />