The HOME Investment Partnerships Program (HOME) provides grants to states and local governments to fund a wide range of activities including:
1. building, buying and/or rehabilitating housing for rent or homeownership; or
2. providing direct rental assistance to low-income families.
It is the largest Federal block grant program for state and local governments designed exclusively to create affordable housing for low-income households. HOME funds are awarded annually as formula grants to participating jurisdictions (PJs).The program’s flexibility allows states and local governments to use HOME funds for grants, direct loans, loan guarantees or other forms of credit enhancements, or rental assistance or security deposits.
Community Housing Development OrganizationsAt least 15 percent of HOME funds must be set aside for specific activities to be undertaken by a special type of nonprofit called a Community Housing Development Organization (CHDO). A CHDO is a private nonprofit, community-based organization that has staff with the capacity to develop affordable housing for the community it serves. In order to qualify for designation as a CHDO, the organization must meet certain requirements pertaining to their legal status, organizational structure, and capacity and experience.
Information on becoming a CHDO, including Organization Checklist:
2017 Program Year Funding
|HOME Project Delivery (10% Cap)||$68,597|
|HOME Down Payment Assistance||$242,373|
|HOME Tenant Based Rental Assistance||$32,148|
|HOME Non-CHDO Housing Development||$237,852|
|HOME CHDO (15% Minimum)||$105,000|
|Total 2017 HOME Allocation||$685,970|