HOME
Summary
 The
HOME Investment Partnership Act (HOME) Program funds are
received from the U.S. Department of Housing and Urban Development
(HUD) on an annual basis to strengthen public-private partnerships
and to expand the supply of affordable housing for very low-income
and low-income families. The Department of Planning and Community
Development administers approximately $2.3 million in HOME funds
annually through the Norfolk Redevelopment and Housing Authority.
Purpose
The general purpose of HOME funds is to
expand the supply of decent and affordable housing, particularly
rental housing, for low- and very-low-income families; strengthen
the ability of the City to design and implement strategies for
achieving adequate supplies of decent affordable housing; provide
financial and technical assistance for housing related activities;
and extend and strengthen partnerships among all levels of government
and the private sector, including for-profit and nonprofit organizations, in the production and
operation of affordable housing.
Eligible Applicants
The City’s HOME activities are
administered through the Norfolk Redevelopment and Housing
Authority, the Department of Planning and Community Development,
other public agencies, public and private nonprofit entities and
for-profit entities eligible to carry out housing related
activities within the boundaries of the City of Norfolk.
Eligible
applicants are required to assist in satisfying the required
Federal match of the HOME program. Qualifying project match includes but is not limited
to
cash, value of donated land and real property, value of donated
materials and labor, waived taxes, fees, and charges. Proposed match sources must be approved and consistent with
program regulations.
A
minimum of 15% of the City’s annual grant award is set aside for
certain nonprofit agencies known as "Community Housing
Development Organizations", or CHDOs.
Eligible Clientele
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 three
or more assisted units, at least 20% of the units must be occupied
by very-low income families (0-50% AMI) and the balance of HOME
assisted units must be occupied by low-income families (51-80%
AMI).Families with higher incomes cannot be assisted. The income
limit of households receiving HOME assistance under the
homeownership programs must not exceed 80 percent of the area
median.
Eligible Activities
Several
affordable housing activities are allowed under the HOME
program. The following is a list of eligible activities:
- Moderate
and substantial rehabilitation
- Assistance
to first-time homebuyers and existing homeowners
- Property acquisition
- New construction
- Program Administration
- Reconstruction
- Demolition
- Site improvements
- Relocation
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