Orange County NC Website
Browse       Search
1 <br /> Estimated Project Cost $7,526,125.00 <br /> Uses of Funds: <br /> 1. land Cost $ 156,000.00 <br /> 2. land Improvements 38,000.00 <br /> 3. Construction Costs 967,990.00 <br /> 4. Total Soft Coles 72,430.00 <br /> 5. Total Other Costs (Arrtg.,fax Opinion,Tmpact Fees) 93,307.00 <br /> 6. Operating and Start-up Reserves 821560.00 <br /> 7. Developer Fee Items (Contingency, Planning, Aden) 115.R38.00 <br /> TOTAL DEVELOPMENT COST $ 1,526,125.00 <br /> Sources of Funds: <br /> 1. Orange County HOME Consortium (OP(:) $58,560.00 <br /> 2. North Carolina Housing Finance Agency <br /> Energy Efficiency Deferred/FOrgfveable [man 180,000.00 <br /> 3. North Carolina Housing Finance Agency <br /> Supportive Housing Program Zero% Loan 220,000.00 <br /> 4. Equity Investment through Low Income Housing <br /> Tax Credit Program- Section 42 Federal <br /> Tax Credit Purchasers 607,565.00 <br /> 5. Orange County Low Income Housing Bond Funds 300,000.00 <br /> 6. Mortgage Loan from Bank 160.i1fN1 no <br /> 'AYI Al- SOURCES S 1,526,125.00 <br /> Rents will be set at Section 8 Fair Market Rents - 5545.00 <br /> All residents will have access to Section 8 Vouchers or Shelter+ Care <br /> Rental Assistance. Residents will pay 30%of their income for rent. <br /> Most residents will have incomes hmlled to SM of apprmz $525.00 <br /> per month; their rent will he 3096 of$525.00,or $158.00 per <br /> month. <br />