The U.S. Department of Housing and Urban Development has awarded the Orange County HOME Consortium $665,560 for fiscal year 2006-2007. In addition, the participating municipalities are required to contribute a 25% match of the grant funds after subtracting administration costs of $66,550. The total match requirement is $149,750. The Town’s contribution to the matching funds is 41% or $61,400. Orange County, Carrboro and Hillsborough will contribute $59,900, $20,960 and $7,490 respectively. The Consortium also proposes to allocate $135,270 of program income for eligible activities. Grant funds including program administration allocated to the Orange County Department of Housing and Community Development ($66,560), the required local match ($149,750), and program income ($135,270), funds available to the Consortium would total $950,580.
The following activities were approved for 206-2007 HOME Program funding by the Orange County HOME Consortium:
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1. |
Homeownership Assistance |
Orange Community Housing and Land Trust (Waterstone) |
$120,000 |
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EmPOWERment, Inc. |
$159,000 |
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2. |
New Construction |
Habitat for Humanity (Fairview) |
$240,000 |
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Habitat for Humanity (Purefoy Drive) |
$250,000 |
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3. |
Acquisition |
Chrysalis Foundation |
$100,020 |
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4. |
Operational Support |
Orange Community Housing and Land Trust |
$ 15,000 |
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5. |
Administration |
Orange County Housing |
$ 66,560 |
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TOTAL |
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$950,580 |