Agenda 04-26-22; 5-a - Public Hearing on FY 2022-2023 Annual Action Plan for the HOME Investment Partnerships Program

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2 The Local Government Affordable Housing Collaborative (the "Collaborative"), comprised of one (1) elected official and staff members from Orange County and the Towns of Carrboro, Chapel Hill, and Hillsborough, reviewed the received applications for the FY 2022-2023 HOME Program on March 3, 2022 and made the following funding recommendations for consideration by each of the jurisdictions' elected bodies: Applicant and Project Funding Funding Requested Awarded Community Empowerment Fund — Homebuyer Assistance $50,000 $50,000 EmPOWERment— Rental Acquisition $105,000 $105,000 Gateway— Refinancing Debt & Rental Rehab $771,800 $0 Habitat for Humanity— Homebuyer Assistance $475,000 $134,392 Rebuilding Together of the Triangle - $150,000 $150,000 Administration 10% of HOME Funds, per statute $ 37,874 $ 37,874 Total $1,551,800 $439,392 As the chart above shows, all applicants except for the Gateway project received either full or partial funding. The Gateway application requested debt refinancing and unit upgrades for a project based Section 8 apartment complex in Hillsborough, and requested more funding ($771,800) than the Consortium expects to have for all projects for the FY 2022-2023 HOME Program ($439,392). Discussions with the applicant revealed that partial funding for this project would not be a viable option, because the debt refinancing must be paired with the renovations. The applicant asked if partial funding could be guaranteed over a 5-year period, but HOME funds do not allow for multiyear allocations. Staff is working with this project applicant to pursue other funding streams to preserve affordable housing resource at Gateway. In accordance with HUD requirements and the Orange County Citizen Participation Plan, the Orange County HOME Consortium must hold a public hearing to obtain residents' comments and feedback on the draft Annual Action Plan during the public comment period, from April 1 — May 2, 2022. Notice of this public hearing was published in The Herald Sun and La Noficia. Copies of the draft Annual Action Plan were posted on the Orange County Department of Housing and Community Development website, and a link to the website and draft plan were circulated by public notice in the newspapers listed above, as well as email outreach to more than 100 relevant stakeholders to include local service providers, nonprofit organizations, government entities, elected officials, and interested residents. All comments received during this hearing, and anytime during the public comment period, will be incorporated into the final Annual Action Plan to be submitted to HUD. Before submitting the final plan, the Board of Commissioners will consider the approval of the Annual Action Plan and the FY 2022-2023 HOME Program Design (funding recommendations) later in 2022. The governing boards for the Towns of Chapel Hill, Carrboro, and Hillsborough are also scheduled to consider the approval in 2022, in order for the final plan to be submitted to HUD by the federal deadline in July 2022. FINANCIAL IMPACT: There are no financial impacts anticipated with this item.