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Agenda - 06-21-2022; 8-h - Updates to the Assistance Policy for the 2020 North Carolina Housing Finance Agency (NCHFA) Essential Single Family Rehabilitation Loan Pool (ESFR20)
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Agenda - 06-21-2022; 8-h - Updates to the Assistance Policy for the 2020 North Carolina Housing Finance Agency (NCHFA) Essential Single Family Rehabilitation Loan Pool (ESFR20)
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6/16/2022 2:39:06 PM
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6/21/2022
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Agenda
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8-h
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Agenda for June 21, 2022 BOCC Meeting
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4 <br /> n4&CHCC <br /> ORANGE COUNTY MOUSING SCI)MMUNITY DEVELOPMENT <br /> • Reside within the county limits of Orange County and own and occupy the home in need of <br /> rehabilitation <br /> • Have a household income which does not exceed 80%of the County median income for the <br /> household size (see income limits below) <br /> • Have a special need (i.e., be >62 years old, handicapped or disabled, , a Veteran, a large family with <br /> >5 household members or a household with a child below the age of six with lead hazards in the <br /> home) <br /> • Have home rehabilitation needs do not exceed the ESFRLP Program limit of$30,000 and must <br /> include all Essential Rehabilitation Criteria as described in the ESFRLP20 Administrator's Manual <br /> (available online at www.nchfa.com). <br /> Unfortunately, not all homes can be rehabilitated to meet the Essential Rehabilitation Criteria with the <br /> limited funding available. Some otherwise-eligible households may be deemed ineligible for assistance <br /> because their homes fail this test. <br /> ESFRLP20 Income Limits* for Orange County <br /> Number in 80%of Median <br /> Household <br /> 1 $50,900 <br /> 2 $58,200 <br /> 3 $65,450 <br /> 4 $72,700 <br /> 5 $78,550 <br /> 6 $84,350 <br /> 7 $90,150 <br /> 8 $96,000 <br /> *Income limits are subject to change based on annually published HUD HOME Limits and will be updated each year. <br /> This update will not require a re-approval of the governing authority. <br /> What Types Of Houses Are Eligible? <br /> Properties are eligible only if they meet all of the following requirements: <br /> • The property must require at least$5,000 of improvements to meet ESFRLP Property Standards <br /> or the local minimum housing code. <br /> • Site-built and off frame modular units are eligible for assistance. Manufactured housing is <br /> eligible for assistance if the foundation and utility hookups are permanently affixed including <br /> removal of all transporting equipment (e.g., wheels, axles, tongue) and installation of a full <br /> masonry foundation and tie-downs. <br /> • No more than fifty percent(50%) of the total area of the unit may be used for an office or <br /> business (e.g., day care, hair salon, room rental, etc.). Program funds may only be used to <br /> improve the residential exterior, interior, and systems portion of mixed-use buildings. <br /> • The property must be free of environmental hazards and other nuisances as defined by all <br />
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