Housing Development

The HOME Consortium has created a housing development fund to assist with the construction of affordable housing in the four counties of the HOME Consortium. According to HUD requirements, each Participating Jurisdiction (PJ) – in this case the Consortium functions as a PJ – must set aside at least 15% of its funding for Community Housing Development Organizations (CHDOs). A CHDO must be a nonprofit organization with a 501(c) federal tax exemption.

These organizations must include providing decent, affordable housing to low-income households as one of the purposes included in their charter, articles of incorporation, or by-laws. CHDOs must serve a specific, delineated geographic area; a neighborhood, several neighborhoods, or the entire community, but not the entire state.

Furthermore, CHDOs must have a formal process for involving potential and actual low-income HOME Program beneficiaries in the design, siting, and development of CHDO programs and projects. The more complex standards involve low-income accountability: no less than one-third of the CHDO’s governing board must be residents of low-income neighborhoods (defined as at least 51 percent of households with incomes below 80 percent of median), low-income residents of the CHDO’s target area, or elected representatives of low-income neighborhood organizations.

The Consortium does set aside some program income and other funding for non-CHDO projects as well. Nonprofit and for-profit developers may apply for these funds on a first come, first served basis, depending on fund availability.

The HOME Consortium funds a wide range of development activities.

CHDOs and developers interested in developing a project may click here to access the HOME Application.