Agenda - 05-04-2004-5g - Laserfiche WebLink

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RESOLUTION AUTHORIZING THE ORANGE COUNTY 2004-2005 HOME PROGRAM DESIGN BE IT RESOLVED, by the Orange County Board of Commissioners as a member of the Orange County HOME Consortium approve following activities for the 2004-2005 HOME Program. Property Acquisition Funds would be allocated to the Town of Chapel Hill to assist the Town Department of Housing purchase one dwelling unit to provide transitional housing for a public housing family transitioning to permanent housing. (Requested nmount: $125,000) $125,000 Funds would be allocated to Habitat for Humanity to purchase five (5) lots in the Winmore subdivision in Carrboro for future development of first-time homebuyer opportunities for first-time homebuyers with incomes at or below 50% of median income.. (Requested amount, $125,000) $125,000 Homeowner Assistance Funds would be allocated to Habitat for Humanity to provide four (4) deferred second mortgages to first- time homebuyers with incomes below 80% of median income in the Richmond Hills subdivision, (Requestedanrount: $80,000) $80,000 Funds would be allocated to Orange Community Housing and Land Trust to provide down-payment assistance for up to seven (7) newly constructed townhomes and condominiums in the planned Winmore subdivision in Carrboro. The dwelling units will be developed by the private sector, and then placed in the Land Trust. Eligible families would be first-time homebuyers with incomes below 80% of median income. (Req:res•ted amount.: $100,000) $70,000 Funds would be allocated to Orange Community Housing and Land Trust to provide down-payment assistance for up to seven (7) newly constructed townhomes and condominiums in the planned Pacifica subdivision in Carrboro.. The dwelling units will be developed by the private sector, and then placed in the Land Trust. Eligible families would be first-time homebuyers with incomes below 80% of median income.. (Requested nrnount: $7Q 000) $70,000 Funds would be allocated to EmPOWE.Rment to provide up to ten (10) deferred second mortgages to first-time homebuyers with incomes below 80% of median income.. Homebuyers would purchase existing housing located in various areas of the County. (Requested amount: $100,000) $100,000 New Construction Funds would be allocated to Habitat for Humanity to provide funding for infrashucture improvements (extension of'sewer line) to a lot owned by Orange Community Housing and Land Trust on Crest Sheet in Carrboro, The subsequent home built on the lot will be sold to a Habitat homeowner and the property will remain in the Land Trust. (Requested amount: $25,000) $25,000 Rental Assistance Funds would be provided for rental assistance for approximately 10-12 low-income families leasing standard property in Orange County, The program will operate in a similar manner to the Section 8 Program and provide rental subsidies for a period of two years to families at or below 50% of the area median income. $236,431