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28 <br />VL. Funds would be allocated to EmPOWERment to provide up to ten (10) deferred <br />second mortgages to first-time homebuyers with incomes below 80% of median income. <br />Homebuyers would purchase existing housing located in various areas of the County. <br />Anticipated Beneficiaries: 10 families earning less than 80% median income <br />Accomplishments: i0 first-time homebuyers <br />Anticipated Completion Date: December 31, 2005 <br />$100,000 <br />VII. Funds would be allocated to Habitat for Humanity to provide funding for <br />infrastructure improvements (extension of sewer line) to a lot owned by Orange <br />Community Housing and Land Tnast on Crest Street in Carrboro. The subsequent <br />home built on the lot will be sold to a Habitat homeowner and the property will remain in <br />the Land Trust. <br />Anticipated Beneficiaries: One (1) family earning less than 50% median income <br />Accomplishmenfs: One housing unit <br />Anticipated Completion Date.° February 2006 <br />Development Schedule: <br />Receive bids for sewer extension 07/2004 <br />Complete construction of sewer extension 10/2004 <br />Begin construction of home 07/2005 <br />Complete construction; sale home 02/2006 <br />$25,000 <br />VIII. Funds would be provided for rental assistance for approximately 10-12 low- <br />income families leasing standard property in Orange County. The program will operate <br />in a similar manner to the Section 8 Program and provide rental subsidies for a period of <br />two years to families at or below 50% of the area median income. <br />Anticipated Beneficiaries: <br />Accomplishmenfs.° <br />Anticipated Completion Date: <br />Program Administration: <br />10-12 families earning less than 50% median income <br />10-12 families receive rental subsidies for two ,years. <br />.tune 20, 2006 <br />Total Funds Available: <br />(includes 25% match calculation) <br />$236,431 <br />$ 73,905 <br />$905,336 <br />