AN ORDINANCE TO AMEND THE TRANSITIONAL HOUSING PROGRAM PROJECT ORDINANCE (2006-06-26/O-1c)

 

BE IT ORDAINED by the Council of the Town of Chapel Hill that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the capital project ordinance for transitional housing is hereby amended as follows:

 

SECTION I

 

The project as authorized by the Town Council is the Transitional Housing Program for Public Housing families as approved by the council on April 23, 2001.

 

SECTION II

 

The Town Manager of the Town of Chapel Hill is hereby directed to proceed with implementation of these projects within terms of funds appropriated here.

 

SECTION III

 

The following revenue is available to complete the project:

 

       Current Budget

Revised Budget

HOME Program 

$  285,117

     $   285,117

County Housing Bond

      75,000

75,000

Program Rental Income 

      11,042

21,042

Transfer from Housing Loan Trust Fund  

      17,500

17,500

 

 

 

Total

$  388,659

     $   398,659

 

SECTION IV

 

The following amounts are appropriated for the project:

 

       Current Budget

Revised Budget

 

 

 

Home Acquisition

$  377,617

     $  377,617

Program Participants Escrow Set Aside 

        3,910

 3,910

Operations 

        7,132

           17,132

 

 

 

 Total

 $  388,659

     $  398,659

 

 

 

 

SECTION V

 

The Town Manager is directed to report annually on the financial status of the project in an informational section to be included in the Annual Budget, and shall keep the Council informed of any unusual occurrences.

 

SECTION VI

 

Copies of this projects ordinance shall be entered into the Minutes of the Council and copies shall be filed within five days of adoption with the Town Manager, Finance Director and Town Clerk.

 

This the 26th day of June, 2006.