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41 <br /> �59 Rp Attachment 3 <br /> ORANGE COUNTY <br /> ?�nT7 Oil NORTH CAROLI NA <br /> H CAS <br /> Description Funds will be allocated to CASA to finance construction of Cedar Village, a 72- <br /> unit apartment community located in Hillsborough, North Carolina.The project <br /> will consist of three 24-unit residential buildings and one community building <br /> on a 4.37-acre site.There will be 36 one-bedroom units and 36 two-bedroom <br /> units. Of the one-bedroom units, 16 units will be rented at 30%AMI, 13 units <br /> will be rented at 50%AMI (6 of which will be HOME units), and 7 units will be <br /> rented at 60%AMI. Of the two-bedroom units, 12 units will be rented at 30% <br /> AMI, 12 will be rented at 50%AMI (5 of which will be HOME units), and 12 <br /> units will be rented at 60%AMI. <br /> Total funding for this activity is $254,719.37. This amount includes: <br /> $237,339.49 in 2024 HOME Entitlement (EN) funds and $17,379.88 in HOME <br /> Program Income (PI) funds.The total amount of HOME funds, including PI, for <br /> this project is $254,719.37. Note: funding contingent on final Housing and <br /> Urban Development Allocations. <br /> Target Date 06/2026 <br /> Estimate the number and 72 households at or below 80%AMI <br /> type of families that will <br /> benefit from the proposed <br /> activities <br /> Location Description 200 Sea Trail St, Hillsborough to Boone Square Shopping Center, Hillsborough <br /> Planned Activities • Predevelopment costs <br /> • New construction for rental <br /> 2 Project Name OCPEH—Tenant Based Rental Assistance <br /> Target Area County-wide <br /> Goals Supported Tenant Based Rental Assistance <br /> Needs Addressed Housing for Low-income households, Housing for individuals Experiencing <br /> Homelessness <br /> Funding Total: $160,133.03 <br />