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6 <br /> Orange County spent$0 of its PY 2023 HOME allocation on direct project costs. During the 2023 CAPER <br /> period,the County expended $0 in Entitlement Funds from prior Program Years, plus $0 in local Match. <br /> As shown above, of the funds that were awarded in the 2023 Program Year(in May of 2023), only <br /> administration funds were disbursed in that program year.This is typical of projects that apply for and <br /> are awarded Orange County HOME funds. Organizations typically apply for HOME funds well in advance <br /> of when they need them, so most projects do not begin the Environmental Review process or enter into <br /> Development Agreements until near the end of the program year in which they applied (e.g., spring or <br /> summer of the following year). <br /> Below is an example of a typical timeline for the Orange County HOME Program: <br /> Orange County releases HOME Program application for upcoming year December(prior year) <br /> HUD releases HOME allocations for Participating Jurisdictions and Consortia February/March <br /> Orange County HOME Program applications are due February <br /> The Collaborative reviews HOME applications and creates a funding March/April <br /> recommendation for the elected bodies of each jurisdiction <br /> The Collaborative's funding recommendations go before the elected bodies for April/May <br /> approval <br /> Orange County HOME Program Year(for reporting purposes)officially starts July <br /> (aligned with the County Fiscal Year) <br /> The County may begin conducting Environmental Reviews of HOME Awardees' July* <br /> projects* <br /> Organizations awarded HOME funds(HOME Awardees) may begin executing July* <br /> HOME Written Agreements with the County(also called Development <br /> Agreements)* <br /> Other HUD-required items(depending on the type of HOME project): Once Environmental Review <br /> Homebuyer Assistance and Development <br /> • Executed HOME Written Agreement between the HOME Awardee and Agreement are complete <br /> homebuyer (often 9-12 months after <br /> • Homebuyer Underwriting start of the program year, <br /> • Homebuyer Counseling depending on the HOME <br /> • Property Appraisal Awardee's project <br /> Rental or Ownership Acquisition timeline)* <br /> • Property Appraisal <br /> Tenant-Based Rental Assistance <br /> • Income Verification Forms <br /> • HOME Rental Assistance Agreement <br /> • HOME Rent Reasonableness Certification <br /> • Minimum Habitability Checklist <br /> • HOME Lease Addendum <br /> 5 <br />