A Washington County and City consortium
First authorized by Congress under the National Affordable Housing Act of 1990, HOME Investment Partnerships Program (HOME) funds are federal resources awarded to states, counties, cities and consortiums (City-County partnerships) for the purposes of developing affordable housing projects that shelter low-income households.
In past years, the Washington County HOME Consortium financed a variety of housing projects including preservation projects, acquisition and rehabilitation projects, special needs owner-occupied housing rehab programs, homeownership programs, and affordable rental housing projects. Since 1992, Washington County has operated the HOME program. To date, more than $19,000,000 in HOME funds have been invested in over 49 projects, that have leveraged over $156,000,000 in development capital.
The HOME program also provides funding for Community Housing Development Organizations (CHDO) called CHDO Operating Grants. Annually nonprofit organizations compete for these funds through a certification and award process overseen by the Washington County HOME Consortium.
HOME Program Activities
Acquisition Financing under the HOME program is defined as the acquisition of buildable land or existing housing units not needing rehabilitation at acquisition. The acquisition of existing units presumes that the units will meet Housing Quality Standards after acquisition. Land banking is a prohibited use of HOME funds. Construction must begin on the proposed HOME project within twelve months of site acquisition.
Rehabilitation Financing under the HOME program is defined as the alteration, repair, improvement, or modification of existing housing, including converting nonresidential buildings for use as affordable housing. Rehabilitation may also include adding rooms to an existing structure, but adding housing units to an existing structure is referred to as New Construction.
New construction financing
New Construction Financing under the HOME program is defined as the construction of rental or homeownership housing units. Any project that includes the addition of new housing units is a New Construction project.
CHDO operating costs
CHDO Operating Costs under the HOME program are defined as a grant awarded to certified Community Housing Development Organizations (CHDOs) with a demonstrated history of providing affordable housing that is aligned with the goals of the Consolidated Plan. CHDO designation occurs after successful approval of the CHDO certification application for a three-year cycle requiring annual recertification by the Washington County HOME Office of Community Development. This grant covers each CHDO's ongoing operating costs as it continues to build affordable housing development capacity in Washington County.