Agenda - 02-21-2006-8a - Laserfiche WebLink

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?~- Affordable Housing The HOME Program In 1990, Congress enacted the HOME Investment Partnerships Act, better known as the HOME Program, in an effort to provide a new approach to housing assistance at the federal level, This federal housing block grant would afford state and local governments the flexibility to find a wide range of housing activities through creative and unique housing partnerships among states and localities, private industry, and nonprofit organizations. In order to receive future HOME Program funds, each housing activity must fall in line with the following goals of the HOME Program: 1. To expand the supply of decent, safe, sanitary and affordable housing, with emphasis on rental housing, for very low- and low-income citizens; 2, To strengthen the abilities of state and local governments to design and implement strategies for achieving adequate supplies of decent affordable housing; and 3. To encourage public, private and nonprofit partnerships in addressing housing needs. Eligible activities for HOME Program funding include (from the Federal Regulations): • Acquisition of property (including assistance to homebuyers); • New construction; • Reconstruction; • Conversions; • Moderate rehabilitation of non-luxury housing with suitable amenities; • Tenant-based rental assistance; • Relocation of displaced persons, families, businesses, or organizations; • Site improvements, acquisition of vacant land and demolition (under special conditions); • Project soft costs; • Administration /planning (for qualified Community Housing Development Organizations); and • Operating expenses for community housing development organizations. 15