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Attachment 2 <br /> Affordable Housing Program <br /> Capital Project Ordinance <br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section <br /> 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is <br /> hereby adopted. <br /> Section 1.The project authorized provides funds to fund housing activities in the following <br /> categories: land acquisition; housing development; and homeownership. The <br /> project is financed by proceeds from the 1997 voter approved bond referendum and <br /> from Housing Trust funds. <br /> Section 2.The officers of the County are hereby directed to proceed with the project within the <br /> budget contained herein. <br /> Section 3.The following revenue is anticipated to complete this project: <br /> Through FY Through FY <br /> 2001-02 FY 2002-03 2002-03 <br /> Sales Tax $0 $0 $0 <br /> Bond Funds $1,287,500 $70,000 $1,357,500 <br /> Grant Funds $0 $15,000 $15,000 <br /> Private Placement $0 $0 $0 <br /> Fees $0 $0 $0 <br /> Housing Trust Funds $50,000 $0 $50,000 <br /> Total Funding, $1,337,500 1 $85,0001 $1422,500 <br /> Section 4.The following amount is appropriated for this project: <br /> Through FY Through FY <br /> 2001-02 FY 2002-03 2002-03 <br /> Land <br /> EmPOWERment $90,000 $0 $90,000 <br /> Habitat for Humanity $460,000 $0 $460,000 <br /> Total Land $550,000 $0 $550,000 <br /> Design $0 $0 $0 <br /> Construction $0 $0 $0 <br /> Scarlett Drive $140,000 $0 $140,000 <br /> EmPOWERment $247,500 $0 $247,500 <br /> Meadowmont <br /> Condominiums $400,000 $0 $400,000 <br /> Total Construction $787,500 $0 $787,500 <br /> Pine Knolls Community <br /> House Relocation $0 $85,000 $85,000 <br /> Other $0 $0 $0 <br /> Total Costs $1,337,500 $85,000. $1,422,500 <br />