Uses of the Housing Fund
Eligible Uses of the Housing Fund
The funds may be used for a variety of activities to develop and support affordable housing, including:
Rehabilitation
The Housing Fund can be used to rehabilitate both rental and owner-occupied homes. Moderate levels of rehabilitation can be a cost-effective development strategy for maintaining a supply of affordable housing.
New Construction
New construction of rental housing is an eligible use of HOME funds in all areas of the State. Newly constructed units must remain affordable to low-income households for 20 years.
Assistance to Homebuyers
The Housing Fund can be used to assist eligible homebuyers in financing the purchase of a home. This activity can be combined with housing rehabilitation.
Assistance to Tenants
The Housing Fund can be used to provide tenant-based rental assistance. Tenant assistance must give preference to those on the waiting list of public housing. The assistance is for a maximum of two years.
Administrative Costs
The Housing Fund can be used for project administration costs.
Ineligible Uses of the Fund
The Housing Fund cannot be used for public housing modernization, project-based rental assistance, tenant subsidies for a specially mandated purpose, matching funds for other federal programs or operating subsidies for rental housing.
Income Limits ->
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