Home Investment Partnership Act
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.
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.
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 (CHDOs).
The eligibility of households for HOME assistance varies with the nature of the funded activity. For rental housing and rental assistance, at least 90% of benefiting families must have incomes that are no more than 60% 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.
- Assistance to first-time homebuyers and existing homeowners
- Moderate and substantial rehabilitation
- New construction
- Property acquisition
- Program administration
- Site improvements
View a summary of HOME program eligibility requirements (PDF).