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All U.S. states are automatically eligible for HOME funds, and each receives a minimum of $3 million for the program, while local governments receive a minimum of $500,000 (unless the United States Congress assigns $1.5 billion or less to the program, in which case they receive a minimum of $335,000). [2]
Eligibility to receive this payment assistance depends on the household income as well as the household size. The maximum household income must be equal to or less than 80% of the Area Median ...
The Home Investment Partnerships Program (HOME) – This HUD program provides grants to state and local governments that can be used to create affordable housing options for low-income households ...
President Reagan had requested the consolidation of 85 existing anti-poverty grants into seven categorical grants; Congress agreed to consolidate 77 grants into nine. The nine new block grants were budgeted about 25% less than the programs they replaced (Conlan, qtd. in [2]). The CSBG legislation was amended in 1998 by the Coates Human Services ...
The HOME Investment Partnerships Program, another community block grant program, was created by Congress in 1990 and authorized as Title II of the Cranston-Gonzalez National Affordable Housing Act. [7] Similar to CDBGs, a consolidated plan is required prior to distribution of HOME funds. [14]
For instance, let's say your mother brings in $600 a month with a Social Security check, and the Medicaid income limit in her state is $750. Then you'll have to do a $150 spend down before ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
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