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■ No money out of pocket. Will forgive money every year as long as stay in <br /> home certain number of years. <br /> (3) HOME Federal Funding <br /> o Orange County receives $400,000 can be used for First Time Homebuyers, <br /> Tenant Based Rental Assistance, Repair and Rehab, Acquisition <br /> o The County used to take an approach to spread the money around to all these <br /> various priorities. Changed strategy to focus on certain buckets. <br /> o Based on community feedback, focusing on 2 priorities - (1) Repair and Rehab <br /> (help with waitlist); (2) Tenant Based Rental Assistance (targeting money for <br /> those that are most vulnerable) <br /> o Board of County Commissioners approved this prioritization. Will approve an <br /> annual action plan to move these priorities forward. <br /> (4) County department also supports the monitoring of Bond money ($5 million) which helps <br /> support more supply-side development efforts. <br /> (5) Questions <br /> o Public Comment: Changes to Homeowners Tax Program? While County is <br /> putting more money into the program, the need is great. <br /> ■ Everyone who qualifies receives something (between $200 to $1,000) <br /> ■ More people are applying, despite having more money to work with <br /> ■ Commissioners are concerned with this program more than other housing <br /> programs, should be a priority for Commissioners <br /> o Public Comment: Tax reassessment - Was done, in name, to take burden off of <br /> lower income people. Doesn't seem to be playing out that way. Need to continue <br /> improving. <br /> o Public Comment: Justice coalition regarding property tax has been established. <br /> Example of tax bill going from $3,000 to $9,000. <br /> ■ Commissioners are trying to make it more equitable <br /> ■ They have the power to suggest changes to tax office. <br /> ■ Inequities include lower income households have doubled and tripled. <br /> Newer bigger houses have not had changes. <br /> ■ Keep the pressure up. <br /> AHAB Work <br /> - Advisory role, no decision-making power <br /> - Capital Investment Plan Funding <br /> - $15 million Bond funding, dispersed in $5 million portions. <br /> - AHAB reviewed applications for the funding based on County staff's formula and <br /> priorities. Make recommendations on how to spend that money. <br /> - Realized we had gaps in our knowledge about what has been done in the past, <br /> therefore conducted an analysis of where money has gone. <br /> - Housing Inventory of what has been done with both Bond funds and HOME <br /> funds <br /> - HOME Funds - $18.5 million since 1995 <br />