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Housing Bond Project Summary <br />Applicant: <br />OPC Foundation for Mental Health <br />Project Title: <br />Property Acquisition Program <br />Request for Bond Funds: <br />$260,000 <br />Total Project Costs: <br />$282,000 <br />Bond Fund Leverage: <br />92% bond funds; 8% other funding sources <br />Project Description: <br />OPC Foundation for Mental Health proposes to use $260,000 in Orange County Housing <br />Bond funds to assist in the acquisition of two duplexes on Johnson Street in Chapel Hill. After <br />purchase, the apartments would be renovated and leased to disabled adults. Two (2) of the four <br />(4) units would be used for crisis/short-term housing for disabled adults who were recovering <br />from hospitalization or attempting to prevent hospitalization. <br />Target Population/Projected Outcome: <br />Four (4) families with incomes at or below 50% of median income <br />Bond Committee Recommendation <br />The Bond Committee does not recommend this project for funding at this time due to the <br />incompleteness of the submitted funding proposal. <br />