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EXHIBIT 2 <br /> <br /> CABARRUS COUNTY <br /> DEPARTMENT OF AGING <br /> ASSISTANCE POLICY <br />FOR THE 1999 CYCLE OF THE <br />URGENT REPAIR PROGRAM (URP) <br /> <br />The Cabarrus County Department of Aging anticipates receiving $58,202 from the North <br />Carolina Housing Finance Agency (NCHFA), North Carolina Housing Trust Fund. The <br />NCHFA will provide $555,000 to the central part of North Carolina. Cabarrus County will <br />provide another $5,000 in administrative costs. With these funds, the department <br />expects to repair 23 houses between January 1, 2000 and July 31, 2001. <br /> <br />This Assistance Policy describes who is eligible to apply for assistance under the URP <br />Program, how applicants for assistance will be rated, what the terms of assistance are <br />and how the whole repair process will be managed. The Department's URP Program is <br />designed to be open, fair and consistent with NCHFA funding and program guidelines. <br /> <br />1. Service Area <br /> All of Cabarrus County, including Concord, Mt. Pleasant, Harrisburg and the Cabarrus <br /> County portion of Kannapolis. <br />2. The Urgent Repair Program 1999 Goals <br /> (a) To assist very Iow-income homeowners with special needs (elderly - 62 years of <br /> age, handicapped or disabled, single parent, large households) in all areas of <br /> Cabarrus County. <br /> (b) To serve households with urgent repair needs, which cannot be met through other <br /> state or federally funded housing assistance programs. <br /> (c) To enable elderly homeowners and others with physical disabilities, to remain in <br /> their homes by providing essential accessibility modifications. <br />3. URP Eligible Households <br /> A minimum of 70% of the households assisted under the Cabarrus County Dept. of <br /> Aging URP99 allocation must have incomes which fall below 30% of the area median <br /> income. No URP fund may benefit households with incomes exceeding 50% of the <br /> area median income. Only owner occupied housing is eligible for assistance under <br /> the Urgent Repair Program. Income limits will be defined using the most recent HUD <br /> income estimates, as provided by the Agency. <br /> Low-income households are those households with gross annual income not <br /> exceeding 50% of the income limits. <br /> <br /> NCHFA URGENT REPAIR PROGRAM <br /> INCOME LIMITS BY COUNTY <br /> <br /> Median One Two Three Four Five Six Seven Eight <br />COUNTY Income Person Person Person Person Person Person Person Person <br />Cabarrus $54,500 $11,100 $12,700 $14,300 $15,850 $17,150 $18,460 $19,700 $20,950 <br /> <br /> <br />