2022-2023 HOME Investment Partnerships Program (HOME) Application L. Peterson, Grants Coordinator
Community Development Department
2022-2023 HOME NOFA
Competitive – applicants are scored and ranked
Total: Approximately $120 million
Funding for Projects and/or Programs serving low-income households earning at or below 80 percent (80%) of Area Median Income (AMI) and very low-income households earning at or below 50 percent (50%) of AMI meant to:
• Increase the supply of affordable rental housing;
• Expand homeownership opportunities and improve existing housing; • Addressing and preventing homelessness; and
• Recovery assistance for natural disaster survivors
Funding Allocations
Targets & Set Asides
Percentage
Amount
Program Activities
40%
$48,000,000
Rental Projects
55%
$66,000,000
First-Time Homebuyer Projects
5%
$6,000,000
CHDO (Community Housing Development Organization)
15%
$18,000,000
Rural Areas
50%
$60,000,000
Native American Entities
20%
$24,000,000
Federally-Declared Disaster Areas (unsubscribed 2021-2022 funds) N/A
$18,000,000
Projects
Up to $12,150,000 (depending on project)
Rental New Construction: funds are provided to develop a specific multifamily Project on a specific site by a specific Developer. Rental new construction Projects may be with or without acquisition Rental Rehabilitation: funds are provided to rehabilitate a specific rental Project on a specific site by a specific Developer, with or without property acquisition.
Homebuyer Projects: Construction financing must include the following: ( 1) New construction or acquisition/rehabilitation/conversion to develop homes on specific site(s). (2) All (100 percent) of the HOME investment rolls over to permanent financing to provide mortgage assistance to eligible first-time homebuyers when the units are sold to eligible homebuyers.
Programs
Up to $1,500,000
First Time Home Buyer Program (FTHB): Grant to jurisdictions for loans to homebuyers for acquisition only and/or acquisition with rehabilitation of a home; or funds for new infill construction (maximum of four dwellings per site).
Owner Occupied Housing Rehabilitation Program (OOR): Grants to jurisdictions for loans to homeowners for repairs to meet federal, state or local building codes and to correct health and safety deficiencies.
Tenant Based Rental Assistance (TBRA): Grants to jurisdictions to provide rent subsidies and/or security deposits to eligible households for a minimum of six months.
Scoring Estimates
Estimate with points for State Objective Sub-factor 2
Rating Factor
Maximum Points
FTHB
OOR
TBRA
Housing Element
50 50
50 50
HUD Direct HOME Allocation (Declined)
50 0
0 0
Rural Communities
50 50
50 50
Capacity - Applicant Experience
100
25 50
75 Capacity - Prior Performance Sub-factor #1: Reporting 50 40
40 40
Capacity - Prior Performance Sub-factor #2: Monitoring Noncompliance (1/1/2019-12/31/2023) 100
100
100
100
Community Need
250
173
181
187
Project Feasibility
100
68 79
79 State Objectives - Sub-factor #1: Increasing Affordable Housing 90 90
90 90
State Objectives - Sub-factor #2: Homelessness or Extremely Low-Income 110
110
110
110
Estimated Total
950
706
750
781
Estimate without points for State Objective Sub-factor 2 Rating Factor
Maximum Points
FTHB
OOR
TBRA
Housing Element
50 50
50 50
HUD Direct HOME Allocation (Declined)
50 0
0 0
Rural Communities
50 50
50 50
Capacity - Applicant Experience
100
25 50
75 Capacity - Prior Performance Sub-factor #1: Reporting 50 40
40 40
Capacity - Prior Performance Sub-factor #2: Monitoring Noncompliance (1/1/2019-12/31/2023) 100
100
100
100
Community Need
250
173
181
187
Project Feasibility
100
68 79
79 State Objectives - Sub-factor #1: Increasing Affordable Housing 90 90
90 90
State Objectives - Sub-factor #2: Homelessness or Extremely Low-Income 110
0 0
110
Estimated Total
950
596
640
781
Scoring Points for State-Objectives – Sub-factor #2: Homelessness or Extremely Low-Income In order to score, applicants must:
1. Apply for TBRA; or
2. Proposed Project will primarily serve (50% or more) people experiencing Homelessness and/or those At Risk of Homelessness as defined in at 24 C.F.R. § 578.3; or
3. Proposed Project will primarily serve (50% or more) Extremely Low-Income Families, which means low-income families whose annual incomes do not exceed 30 percent of the median family income of a geographic area, as determined by HUD with adjustments for smaller and larger families.
HOME Income Limits effective 6/15/2023
Persons in Household
1 2
3 4
5 6
7 8
30% Limit
$17,850
$20,400
$22,950
$25,500
$27,550
$29,600
$31,650
$33,700
Very Low Income 50%
$29,750
$34,000
$38,250
$42,500
$45,900
$49,300
$52,700
$56,100
60% Limit
$35,700
$40,800
$45,900
$51,000
$55,080
$59,160
$63,240
$67,320
Low Income 80%
$47,600
$54,400
$61,200
$68,000
$73,450
$78,900
$84,350
$89,800
Program Costs
$1,500,000 total including Activity costs (loans/grants), Project-related Soft Costs (direct cost of implementing activity), and General Administration of HOME program Program Type
General Administration
Project-related Soft Costs
FTBH
Up to 2.5%
Up to 6.5% of home acquisition costs
OOR
Up to 2.5%
Up to 24% of loan/grant amounts
TBRA
Up to 10%
Up to 5% of rent payments
Timeline
March 25, 2024: Council provide direction regarding application April 8, 2024: Council consider adopting a resolution approving the application April 9, 2024: Application submitted to HCD
July 2024: Award announcements
September 2026: Contracts executed
September 2030: Program expenditure deadline