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Approve the 2024-2025 HOME Investment Partnership Program Annual Plan.
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Staff:
Department:
Sarah Osmer Vi?as, Director
Affordable Housing and Community Connections
Emily Holt, Affordable Housing Manager
Overview: The Orange County HOME Consortium receives an annual allocation of federal HOME Investment Partnership Program funds from the U.S. Department of Housing and Urban Development to address County-wide affordable housing needs. The recommended plan includes $395,320 of 2024-2025 HOME Program funds for eligible affordable housing projects. HOME funded projects must benefit households earning 80% or less of the area median income ($84,700 for a four-person household).
Background
* Orange County is the lead entity for the HOME Program Consortium.
* The Consortium includes four participating jurisdictions (Chapel Hill, Carrboro, Hillsborough, and Orange County).
* To enhance collaboration around affordable housing among the jurisdictions in the County, the Orange County Local Government Affordable Housing Collaborative (the Collaborative) was formed in 2017.
o The Collaborative includes elected officials and staff from the each of the four participating jurisdictions and serves as the HOME Program Consortium application review team, charged with developing an annual HOME Program plan.
o Mayor Pro Tem Karen Stegman represents the Chapel Hill Town Council on the Collaborative.
* All participating jurisdictions must approve and authorize submission of the plan prior to submittal to the U.S. Department of Housing and Urban Development (HUD).
* The Collaborative recommends the Council review and approve a 2024-2025 HOME Program Plan.
Recommendation(s):
That the Council:
1. Approve a spending plan recommended by the Collaborative for use of $395,320, including $367,014 of 2024-2025 Orange County HOME Program funds and $28,306 in program income.
2. Authorize this plan to be incorporated into the Annual Update to the 2020-2024 Consolidated Plan...
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