The County of Rockland is accepting applications for its Home Investment Partnership Program (HOME) to help jurisdictions expand the supply of decent and affordable rental and ownership housing for low and very low income persons.
Donor Name: Rockland County Office of Community Development (RCOCD)
State: New York
County: Rockland County (NY)
Type of Grant: Grant
Deadline (mm/dd/yyyy): 03/31/2022
Details:
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.
HOME’s flexibility empowers people and communities to design and implement strategies tailored to their own needs and priorities. HOME’s emphasis on consolidated planning expands and strengthens partnerships among all levels of government and the private sector in the development of affordable housing. HOME’s technical assistance activities and set-aside for qualified community-based nonprofit housing groups builds the capacity of these partners. HOME’s requirement that participating jurisdictions (PJs) match 25 cents of every dollar in program funds mobilizes community resources in support of affordable housing.
Types of Assistance
HOME funds are awarded annually as formula grants to participating jurisdictions. HUD establishes HOME Investment Trust Funds for each grantee, providing a line of credit that the jurisdiction may draw upon as needed. The program’s flexibility allows States and local governments to use HOME funds for grants, direct loans, loan guarantees or other forms of credit enhancement, or rental assistance or security deposits.
Eligible Customers
The eligibility of households for HOME assistance varies with the nature of the funded activity. For rental housing and rental assistance, at least 90 percent of benefiting families must have incomes that are no more than 60 percent of the HUD-adjusted median family income for the area. In rental projects with five or more assisted units, at least 20% of the units must be occupied by families with incomes that do not exceed 50% of the HUD-adjusted median. The incomes of households receiving HUD assistance must not exceed 80 percent of the area median. HOME income limits are published each year by HUD.
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.
For more information, visit Rockland County Office of Community Development (RCOCD) .
