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gent ey: ; <br />9670710; <br />Mar-22-00 8:18AM; Page 213 <br />24 <br />Orange CauntY HaNl~ Program <br />Proposal for use of FY20g4 ~- 200'1 Funds <br />I. Generallnfarmativn <br />Name of Organization: EmPOWERment_, Inc. <br />Name of Contact Person: Mvl~,~s Presle_r <br />Telephone Number: 7.877 <br />Address: 705A West Rosema Street <br />Carrboro NG 27510 <br />ll. Proposed Project <br />a. Project tale: Down a mentlA u sition-Rehab <br />Location: throughout strange County <br />b, Please provide a brief summary df the proposed project including <br />what the projectlprogram is, what the funding will be used far and <br />tha specific pr~pulation or area ttrat will banafrt. Please attach <br />additional sheets if more space is Headed. <br />EmPOWERment, Inc., has now helped 2+4 families to buy homes through an aggressive <br />combination of nEw construction, acquisition-rehab, and downpayms:nt assistance. <br />HOME funds have been our primary source of second morl~age financing, which is <br />neaes~ary to help Iow-income families to buy their first homes. We are requesting art <br />allocation of $200,000 in HOME funds to continue this ini#iative throughout Grange <br />County. <br />Amount of Request: 00 0 0 <br />Total Project Costs: ±!- ~~ .080,000 <br />Number proposed to be served: 12 families in twelve units <br />Target population: famili sea in I ss than 70% +area median income <br />Median. income of project beneficiaries: n avers a families in our ro ram earn <br />53% of AM <br />V11hat is the timetable for project completion? '12 months_ <br />Are ail funding commitments in place for the project? NO If no, what is the funding plan <br />for the praject7 Homes are funded on aproject-by-project basis. With second mort a e <br />subsid in lace firs mo a e fundinrs not difficult to obtain. <br />