AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE*
title
Approve an Amendment to the Town of Chapel Hill's Portion of the Overall HOME Local Match for 2024-2025 HOME Funding
presenter
RESPONSIBLE STAFF, TITLE, DEPARTMENT*
Sarah Osmer Vi?as, Director, Affordable Housing and Community Connections (AHCC) Department
Emily Holt, Affordable Housing Manager, AHCC Department
Melissa Peters, Funding Programs Coordinator, AHCC Department
STAFF RECOMMENDATION*
Staff recommends that the Council adopt R-4 approving an amendment to the Town of Chapel Hill's portion of the overall HOME local match for 2024-2025 HOME funding.
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ACTION/DECISION POINTS*
Adopt the attached resolution approving the amended Town of Chapel Hill's portion of the overall HOME local match for 2024-2025 HOME funding.
LEGISLATIVE CONTEXT*
The Town, as one of the four members of the HOME Investment Partnerships Program (HOME) Consortium, must approve the annual amount of local matching funds the Town will contribute for HOME funding. On June 12, 2024, Council approved a 2024-2025 HOME match amount of $38,365. However, in June 2025, the Town identified that the correct 2024-2025 HOME match amount was $39,621. Therefore, the Town must amend the previous approval of $38,365 to the correct 2024-2025 HOME match amount of $39,621.
BACKGROUND AND CONTEXT*
The U.S. Department of Housing and Urban Development requires HOME grantees to provide local match funds to receive their yearly HOME funding. The four local jurisdictions within the Orange County HOME Consortium, Orange County, the Towns of Carrboro and Hillsborough, and the Town of Chapel Hill, contribute proportionally to the HOME local match based on population.
The Orange County HOME Consortium receives an annual allocation of federal HOME funds from HUD to address County-wide affordable housing needs. For the 2024-25 Program Year, the HOME Consortium received $395,320. The recommended funding plan includes $367,014 of 2024-2025 HOME Program funds as well as...
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