ATTACHMENT A

Summary of the 2006-2007

Orange County HOME Consortium HOME Program

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 percent 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 percent 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:

1. Homeownership Assistance    Orange Community Housing and

    Land Trust (Waterstone)                 $120,000

                                                            EmPOWERment, Inc.                            (Northside and Pine Knolls)           $159,000

2. New Construction                   Habitat for Humanity

  (Fairview)                                          $240,000

Habitat for Humanity

  (Purefoy Drive)                                 $250,000

3. Acquisition                              Chrysalis Foundation                          $100,020

4. Operational Support                Orange Community Housing and

             Land Trust                                         $  15,000

5. Administration                        Orange County Housing                     $  66,560

            TOTAL                                                                                               $950,580