HOME Affordable Housing Development
HOME Investment Partnerships Program
A broad range of eligible activities are possible including, 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. HOME-assisted rental housing must comply with certain rent limitations. HOME rent limits are published each year by HUD.
The program also establishes:
Some special conditions apply to the use of HOME funds. Every dollar of HOME funds used must be matched with 25 cents from nonfederal sources, which may include donated materials or labor, the value of donated property, proceeds from bond financing, and other resources. HOME-funded housing units must 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).
Community Housing Development Organization (CHDO)
A minimum of fifteen percent of the County's annual allocation must be reserved to fund housing to be owned, developed, or sponsored by experienced, community-driven nonprofit groups designated as Community Housing Development Organizations (CHDOs). HUD provides certain criteria to qualify as a CHDO.
When funding becomes available, the County of Gloucester will request proposals for qualified projects from certified parties.
For more information:
Christina Velázquez, Senior Program Analyst
Gloucester County Planning Department
Housing and Community Development
1200 N. Delsea Drive
Clayton, NJ 08312
(856) 307-6656 FAX