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Agenda - 12-10-2024; 5-a - Public Hearing for 2025-2029 Consolidated Plan for Housing and Community Development Needs
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Agenda - 12-10-2024; 5-a - Public Hearing for 2025-2029 Consolidated Plan for Housing and Community Development Needs
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BOCC
Date
12/10/2024
Meeting Type
Business
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Agenda
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5-a
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81 <br /> Anticipated Resources <br /> Program Source of Uses of Funds Expected Amount Available Year 1 Expected Narrative Description <br /> Funds Annual Program Prior Year Total: Amount <br /> Allocation: Income: Resources: $ Available <br /> $ $ $ Remainder <br /> of ConPlan <br /> HOME public- Acquisition Five years of funding at the <br /> federal Homebuyer assistance estimated funding level each year. <br /> Homeowner rehab <br /> Multifamily rental new <br /> construction <br /> Multifamily rental <br /> rehab <br /> New construction for <br /> ownership <br /> TBRA 374,851 1 13,000 1 0 1 387,851 1,400,000 <br /> Table 49-Anticipated Resources <br /> Explain how federal funds will leverage those additional resources (private, state and local funds), including a description of how <br /> matching requirements will be satisfied <br /> The Orange County HOME Consortium will leverage additional funds from a variety of sources to address the needs identified in this plan. <br /> Orange County is the recipient of the North Carolina Housing Finance Agency Essential Single-Family Rehabilitation Loan Pool (ESFRLP) and <br /> Urgent Repair Program (URP)funds. Each recipient of SFRLP funds is awarded $190,000 to conduct moderate rehabilitation for owner-occupied <br /> homes belonging to households earning below 80%AMI. For URP, the County has typically received $80,000 each year to provide emergency <br /> repairs to address threats to life, health, and safety for owner-occupied homes belonging to households earning below 50%AMI. <br /> The Orange County HOME Consortium uses cash as its local match for HOME funds. It is estimated that this match will be$93,713 for program <br /> year 2020.These funds will be used for tenant-based rental assistance (TBRA) in the newly created countywide Housing Help Rapid Re-Housing <br /> program administered by the Orange County Department of Housing and Community Development. <br /> FFY 2020—2024 Orange County, NC HOME Consortium 78 <br /> Consolidated Plan <br /> OMB Control No:2506-0117(exp.06/30/2018) <br />
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