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18 <br />Housing Bond Project Summary <br />Applicant: <br />OPC Area Program & Orange Person Chatham Foundation for Mental Health <br />Project Title: <br />Rental Housing Acquisition Program Proposal <br />Request for Bond Funds: <br />$160,000 reduced by the Review Committee to $80,000 <br />Total Project Costs: <br />$480,000 <br />Bond Fund Leverage: <br />17% bond funds; 83% other funding sources <br />Project Description: <br />The Orange Person Chatham Area Program and the Orange Person Chatham Foundation <br />for Mental Health is seeking a deferred loan in the amount of $160,000 for acquisition and <br />necessary rehab costs to provide rental property to persons with disabilities residing in Orange <br />County including the Towns of Carrboro, Chapel Hill, and Hillsborough <br />Target Population/Projected Outcome: <br />Acquisition of two condominiums for lease to families with incomes below 25 % of the <br />area median income. <br />Project Schedule <br />Project Completion - June 2000 <br />Long Term Affordability Vehicle <br />No Statement was provided by the applicant. <br />