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:
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.
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.
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 |
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 |
|
|
|
|
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.
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.