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1 <br /> ORD-2024-039 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 19, 2024 <br /> Action Agenda <br /> Item No. 8-d <br /> SUBJECT: Fiscal Year 2024-25 Budget Amendment #3 <br /> DEPARTMENT: County Manager's Office <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1. Year-to-Date Budget Kirk Vaughn, (919) 245-2153 <br /> Summary <br /> PURPOSE: To approve budget, grant, and capital project ordinance amendments for Fiscal Year <br /> 2024-25. <br /> BACKGROUND: <br /> Visitors Bureau <br /> 1. The Visitors Bureau is requesting use of $201,842 of its available unassigned fund <br /> balance for tourism initiatives. These funds will be utilized to continue business <br /> marketing and advertising strategies, build on a campaign to bring meetings and <br /> conferences to Chapel Hill, increase travel opportunities for employees, and support <br /> additional summer events in 2025. This budget amendment provides for the $201,842 <br /> appropriation from the Visitors Bureau Unassigned Fund Balance. With this <br /> appropriation, $425,118 will remain in reserves, which represents 15% of the budgeted <br /> expenditures. <br /> ALIGNMENT WITH STRATEGIC PLAN: This item supports: <br /> • GOAL 6: DIVERSE AND VIBRANT ECONOMY <br /> OBJECTIVE 1. Provide family-oriented and inclusive programming or other cultural <br /> events for residents and visitors. <br /> OBJECTIVE 5. Increase access to and awareness of resources and assistance <br /> available to residents and businesses. <br /> Housing <br /> 2. The budgeted revenue and expenditures for the 2024-25 HOME Grant have been <br /> reduced by $47,481. The HOME Grant is awarded annually by the US Department of <br /> Housing and Urban Development (HUD) and provides funding for a wide range of <br /> affordable housing activities including building, buying, and/or rehabilitating affordable <br /> housing for rent or ownership. The Orange County Local Government Affordable <br />