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The program will provide a 3-to-1 match up to $12,000, and these loans may be used for a down payment or closing costs. For example, if the homebuyer invests $500, the County will match $1,500 and ...
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]
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]
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.
HUD also launched a program to build 20,000 new affordable housing units and to rehouse 100,000 people experiencing homelessness. ... HOME Investment Partnerships Program. HOME provides annual ...
That firm would receive $2,855,759 in American Rescue Plan Act funds and $232,329 through the HOME Investment Partnerships Program to help finance the development. ... That project would receive ...
(The Center Square) – Federal home improvement grants worth $5.3 million went out this week to eight counties in Pennsylvania's rural northern tier. The HOME Investment Partnerships Program ...
The Office of Community Planning and Development is an agency within the United States Department of Housing and Urban Development (HUD). The office administers the grant programs that help communities plan and finance their growth and development, increase their capacity to govern, and provide shelter and services for homeless people.