Agenda - 04-01-1992 - Laserfiche WebLink

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ATTACHMENT III -A HOME PROGRAM 1992 PROPOSED FUNDING CATEGORIES 1. COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO) CATEGORY This category of funding is designed to meet the statutory requirement that at least 15% (S3.3 million) of the State's HOME program funds be available to CHDOs. The category will be competitive and will only be open to non -profit agencies that meet the HUD definition of a CHDO. The Division will work with potential non - profit housing development agencies to assist them in becoming qualified as CHDOs so they will be eligible to receive funds under this category. Applicants will be required to submit eligible project requests and demonstrate that firm financial commitments exist for a project before an agreement is executed. Non - profit agencies that have demonstrated a capacity for carrying -out housing activities and a history of providing affordable housing in their community will be in an excellent position to become CHDOs. In all cases, the non - profit organizations must be community -based and have significant and active representation of low- income persons on the governing board. In urban .areas the community may be defined as the city, county, or the metropolitan area; in rural areas the community may be the town, county, or. multi- county areas, but not the entire state. CHDOs may not be controlled by either for - profit entities or public agencies. Non - profit organizations that become CHDOs will also be eligible to receive project - specific technical assistance and site development loans to facilitate their efforts in effectively using HOME fiends. 2. STATE CONSORTIA PROGRAM CATEGORY This category is designed to award funds to applicants that have agreed to participate with other local governments, non - profit housing organizations, and other affordable housing providers in the administration of a regionally designed HOME program. The category requires the development of affordable housing on a regional basis and multi - agency cooperation for project design and siting. The funds will be awarded on a competitive basis. Participants in the Consortia Category will be required to select a unit of general local government to represent the consortium for administrative purposes. Non - profit housing development organizations, for - profit housing development organizations, and other public agencies would be eligible to be consortia participants. Any member of the consortium could play a central role in developing housing projects.