SDHDA distributes HOME funds geographically throughout eligible areas of the state, taking into consideration the following set-asides:
|Community Housing Development Organizations (CHDO)|
CHDO Attachment A
Set-aside is for a nonprofit entity that has received a tax-exempt ruling under Section 501(c)(3) or (4) of the Internal Revenue Code and meets the CHDO requirements.
|15% (approximately $450,000)|
|Homeowner Rehab Policy And Procedures Manual|
Homeowner Rehab Program Application
Set-aside is for Community Action Program agencies and qualified nonprofit entities for the purpose of rehabilitating single family, owner- occupied properties.
(maximum of $200,000 per subrecipient per year)
|Homebuyer Assistance Program Term Sheet|
Homebuyer Assistance Program Application
Set-aside provides gap financing, downpayment or closing cost assistance to qualified homebuyers approved for the purchase of a home, including the Governor’s House.
|Security Deposit Assistance Program Term Sheet|
Security Deposit Assistance Program Application
Set-aside is for qualified Public Housing Authorities and qualified nonprofit entities for the purpose of providing security deposits to qualified families.
|Difficult to Develop Areas|
Set-aside is for projects determined by SDHDA to be difficult to develop, based on site location, size of project, target tenant population, and inability to repay with normal underwriting procedures.
Set-aside is for the development of single family homeownership; the homeowner must be identified at time of application.
|Rural Housing Development|
Set-aside is for projects in communities of 5,000 or less in population.
Further requirements can be found in the HOME Allocation Plan.