Orange County NC Website
Browse       Search
1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 2, 2024 <br /> Action Agenda <br /> Item No. 5-a <br /> SUBJECT: Public Hearing on FY 2024-2025 Annual Action Plan for the HOME Investment <br /> Partnerships Program <br /> DEPARTMENT: Housing <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1: Draft FY 2024-2025 Blake Rosser, Housing Director, 919-245- <br /> Annual Action Plan 4329 <br /> Summary Thomas McCallister, Community <br /> Development Analyst, 919-724-8337 <br /> PURPOSE: To hold a public hearing on the Annual Action Plan for the HOME Investment <br /> Partnerships Program. <br /> BACKGROUND: Every year, state and local governments ("Participating Jurisdictions") that <br /> receive HOME Investment Partnerships Program ("HOME") funds from the U.S. Department of <br /> Housing and Urban Development ("HUD") are required to complete an Annual Action Plan that <br /> lays out how they will allocate HUD funds for the upcoming program year in order to address the <br /> goals and priorities in the Consolidated Plan. A summary of the draft Annual Action Plan for FY <br /> 2024-2025 for Orange County is provided at Attachment 1. <br /> For FY 2024-2025, the Orange County HOME Consortium anticipates receiving the following <br /> HOME resources: <br /> FY 2024-2025 HOME Funds $ 429,496.00 <br /> HOME Program Income $ 28,306.00 <br /> Total (Allocation + Program Income) $ 457,802.00 <br /> The amount of FY 2024-2025 HOME Funds is subject to change according to HUD's final <br /> allocation notice, which is typically sent in either the 2nd or 3rd quarters. The below proposed award <br /> amounts may change accordingly, although the funding proportions will be maintained. <br /> Orange County is a special type of Participating Jurisdiction, called a Consortium, consisting of <br /> Orange County and the Towns of Carrboro, Chapel Hill, and Hillsborough. Orange County serves <br /> as the lead entity for the Orange County HOME Consortium. As the lead entity, Orange County <br /> is entitled to dedicate up to 10% of FY 2024-2025 HOME funds towards administration costs. This <br /> provision allows for the allocation of funds to cover necessary administrative expenses associated <br />