The primary purpose of the HOME Program is to expand the supply of decent, safe, sanitary, and affordable housing for very low-income and low-income households as determined per the Income Limits. U.S. Department of Housing and Urban Development provides annual funding to participating jurisdictions (SDHDA) to develop their own programs in partnership with local governments, nonprofit organizations, and the private sector. The HOME Program provides funds to developers and/or owners for acquisition, new construction, and rehabilitation of affordable housing. The typical financing package would consist of 10% owner equity, 40% conventional loan and 50% HOME funds. The HOME funds are loaned at a 0% interest rate with variable repayment terms. In addition to the set-asides, there is $4,775,000 General Pool funds available for the 2013 HOME applications. The 2013 per project limit is $955,000, the per developer, sponsor, or owner limit is $1,193,750,000, and the per community limit is $2,387,500.
*You will need Adobe Acrobat to fill out the Application form. In order to save the Application form, you will need to have Adobe Acrobat Professional 7.0
A portion of the HOME funds are set-aside for specialized housing opportunities as detailed under Set-Asides.
For housing built before 1978, lead based paint could be a potential health risk. Lead is a highly toxic metal that may cause a range of health problems, especially in young children. When lead is absorbed into the body, it can cause damage to the brain and other vital organs, like the kidneys, nerves and blood. Lead may also cause behavioral problems, learning disabilities, seizures and in extreme cases, death. Some symptoms of lead poisoning may include headaches, stomachaches, nausea, tiredness and irritability. Children who are lead poisoned may show no symptoms.
January 2002, federal Lead Based Paint requirements went into effect. All HOME funded projects are required to document compliance with these requirements. For more information on Lead Based Paint requirements please view HUD’s Healthy Homes website.
Call or e-mail
, Housing Development Officer, with your HOME program questions.
Phone: (605) 773-5159