Orange County NC Website
z~ <br />3, Installation and Repair of Playground Equipment <br />Approximately $6,000 of Community Development funds will be used to repair <br />and replace playground equipment at various public housing sites. <br />These activities are located in an existing public housing community which is in an area <br />of both low/moderate and minority concentration, This is a continuation of the Town's <br />efforts to renovate existing public housing communities. <br />Anticipated Beneficiaries 336 households earning less than 80% of the <br />Accomplishments: 65 renovated public housing apartments <br />Anticipated Completion Date; December 31, 2005 <br />$206,000 <br />Priority: Facilitate the construction of new or substantially rehabilitated <br />housing units that are affordable to families earning less than 80% of <br />the median family income. <br />Funds will be used for the renovation of owner occupied housing in the Northside <br />neighborhood. We estimate that these funds could be used to rehabilitate four houses <br />and provide for contract staff support, Funds would be provided as deferred loans to <br />qualified homeowners that could be forgiven over time (typically twenty years, <br />depending on the amount of the loan), The funds would be repaid to the Town if home <br />was sold or conveyed to heirs that do not meet the income guidelines of the program <br />within the affordability period (typically twenty years), <br />Anticipated Benetlciaries: <br />Accomplishments: <br />Anticipated Completion Date: <br />4 Households earning <br />median income <br />4 Housing Units <br />September 30, 2005 <br />less than 80% of the area <br />$100,000 <br />Priority: Facilitate the purchase of new and existing housing units by first <br />time homebuyers with incomes 80% and below of the area median <br />income. <br />Funds will be budgeted to enable Orange Community Housing and Land Trust to <br />reduce the prices of ten (10) townhomes in the Vineyard Square Development. Funds <br />would be provided as a grant to the Land Trust. Funds would be used to reduce the <br />sales price of three-bedroom townhomes from $115,000 to $105,000. Townhomes <br />