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2 <br />Development Agreement has been developed by County staff for review by the Board and the <br />County Attorney. <br />FINANCIAL IMPACT: Bond funds awarded to this project represents an expenditure of <br />$75,000 of the $1.8 million dollar Affordable Housing Bond approved in November 1997. <br />Additionally, approximately $28,117 and $32,000 in FY 2002 and 2003 HOME Program funds <br />respectively has been allocated to the Transitional Housing Program. <br />RECOMMENDATION(S): The Manager recommends authorizing the execution of a <br />Development Agreement by the County Manager with the Town of Chapel Hill for the <br />acquisition of rental property after the County Attorney has reviewed and approved the <br />Agreement.