Rental Housing Development (Multi-Family) HOME Rental Housing Program


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Multi-Family
Program Documents
Affordable Housing Construction Loan Initiative NOFA - FAQ
Affordable Housing Construction Loan Initiative – Notice of Funding Availability
Clarifying Amendment-Affordable Housing Construction Loan Initiative
Rental Housing Construction Loan Initiative Application
Homeownership Housing Construction Loan Initiative Application
Consolidated Plan
Consolidated Annual Action Plans
Consolidated Annual Performance and Evaluation Report
Davis Bacon Documents
 

HOME Program Summary

HOME is authorized under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended. Program regulations are at 24 CFR Part 92. Additional information about the HOME program can be found by visiting the HOME program web pages.

HOME provides formula grants to States and localities that communities use-often in partnership with local nonprofit groups-to fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people.

LHC serves as the administrator for HOME funds on behalf of Louisiana.  LHC distributes HOME funds through a Notice of Funding Availability, in-additions set-asides provided through the Tax Credit QAP process.

 

Eligible Activities

Participating jurisdictions may choose among a broad range of eligible activities, using HOME funds to provide home purchase or rehabilitation financing assistance to eligible homeowners and new homebuyers; build or rehabilitate housing for rent or ownership; or for "other reasonable and necessary expenses related to the development of non-luxury housing," including site acquisition or improvement, demolition of dilapidated housing to make way for HOME-assisted development, and payment of relocation expenses. PJs may use HOME funds to provide tenant-based rental assistance contracts of up to 2 years if such activity is consistent with their Consolidated Plan and justified under local market conditions. This assistance may be renewed. Up to 10 percent of the PJ's annual allocation may be used for program planning and administration.

HOME-assisted rental housing must comply with certain rent limitations. HOME rent limits are published each year by HUD. The program also establishes maximum per unit subsidy limits and maximum purchase-price limits.

In addition, PJs must reserve at least 15 percent of their allocations to fund housing to be owned, developed, or sponsored by experienced, community-driven nonprofit groups designated as Community Housing Development Organizations (CHDOs). PJs must ensure that HOME-funded housing units remain affordable in the long term (20 years for new construction of rental housing; 5-15 years for construction of homeownership housing and housing rehabilitation, depending on the amount of HOME subsidy). PJs have two years to commit funds (including reserving funds for CHDOs) and five years to spend funds.

Link to HOME Rents (.pdf)
Link to HOME Income Limits (.pdf)

 

Assistance is available on an equal basis regardless of race, color, familial status, national origin, religion, sex or handicap.