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6 <br /> AP-05 Executive Summary <br /> Introduction <br /> The Orange County, North Carolina HOME Consortium, is a Participating Jurisdiction in the U.S. <br /> Department of Housing& Urban Development's (HUD) HOME Investment Partnerships Program <br /> (HOME). Under the HOME Program, local governments are able to join together to form a consortium in <br /> order to receive HOME funding for affordable housing. The Orange County HOME Consortium is made <br /> up of four(4) members: Orange County, the Town of Carrboro,the Town of Chapel Hill, and the Town of <br /> Hillsborough, with Orange County serving as the lead entity.The Town of Chapel Hill also receives <br /> Federal Community Development Block Grant(CDBG) funds each year. <br /> Orange County is required to complete an annual plan for the use of HOME funds to HUD, called the <br /> Annual Action Plan.The Annual Action Plan is a guide to how the County will allocate its resources for <br /> specific activities that support the Goals and Objectives of the Orange County HOME Consortium's Five <br /> Year Consolidated Plan.This is the HOME Consortium's fourth Annual Action Plan of the 2020-2025 Five <br /> Year Consolidated Plan. The Consolidated Plan describes the housing and non-housing needs of County <br /> residents and presents a five-year strategy to address those needs. <br /> This Annual Action Plan outlines how Orange County will use HOME funds to address the goals and <br /> priorities in the Consolidated Plan and which activities the County will undertake using HOME funds <br /> during the upcoming program year.The Orange County HOME Program Year aligns with the County <br /> Fiscal Year, beginning July 1 and ending June 30 of each year.This Annual Action Plan is for funds for <br /> Fiscal Year (FY) 2023-2024,which begins July 1, 2023 and ends June 30, 2024. <br /> The FY 2023-2024 Annual Action Plan outlines the actions to be undertaken with the HOME funds to be <br /> received by the Orange County HOME Consortium.This plan excludes the Town of Chapel Hill's CDBG <br /> program;the Town will complete a separate Annual Action Plan for its CDBG allocation from HUD. <br /> Based on HUD's FY 2023 budget numbers,the Orange County HOME Consortium anticipates receiving <br /> $429,496 in awarded funds, $13,306 in HOME program income and the Consortium members will <br /> provide, and $96,637 in HOME Match. Orange County will use 10%of awarded funds for administration <br /> —$44,350. In total, Orange County will have $496,489 available to award for FY 2023-2024. <br /> FY 2023-2024 Budget: <br /> Orange County proposes to undertake the following activities with FY 2023-2024 HOME funds: <br /> HOME-21-01—CASA, Rental Construction $446,489 <br /> HOME-21-02—Pee Wee Homes, Rental Construction $50,000 <br /> Total $496,489 <br /> Annual Action Plan 2 <br /> FY 2023-2024 <br />