Orange County NC Website
1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: May 19, 2020 <br /> Action Agenda <br /> Item No. 6-c <br /> SUBJECT: Release of the 2020 Orange County Affordable Housing Bond Program <br /> Application <br /> DEPARTMENT: Housing and Community <br /> Development <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1: 2020 Orange County Emila Sutton, Director, Housing and <br /> Affordable Housing Bond Community Development, (919) <br /> Program Application 245-2490 <br /> PURPOSE: To authorize the release of the 2020 Orange County Affordable Housing Bond <br /> Program Application materials on June 8, 2020. <br /> BACKGROUND: In the fall 2016, the Board of Commissioners approved a $5 million Affordable <br /> Housing Bond. Half of the bond funds ($2.5 million) were awarded in 2017. This application is <br /> for the remaining $2.5 million of the bond funds. <br /> The 2020 application was developed based on the Request for Proposals (RFP) for the 2017 <br /> round of bond funding and the application evaluation criteria approved by the Board of <br /> Commissioners in April 2019. <br /> Eligible projects will be new construction for homeownership and/or rental development <br /> affordable to low-income households. Projects may be mixed-use and/or mixed-income. No <br /> more than 20% of residential units may be set aside for people with disabilities, in compliance <br /> with best practices outlined in the State of North Carolina's Olmstead settlement agreement. <br /> Land banking is not an eligible use. <br /> Eligible applicants for funding will be: <br /> • nonprofit organizations involved in affordable housing and community development <br /> (including faith-based organizations) <br /> • for-profit developers, and <br /> • joint ventures between eligible nonprofit and for-profit entities <br /> The application evaluation criteria consider the following factors for each proposed project: <br /> (1) income and vulnerable population targeting <br /> (2) targeting of households currently living and/or working in Orange County <br /> (3) leveraging of other funding sources <br />