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Technical Assistance and
Site Control Loans
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Seed Money Loans
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Purpose
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Establish preliminary feasibility of a specific project.
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Covers pre-construction costs for a specific project.
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Timing
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Used prior to gaining site control.
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Must have site control, preliminary financial commitments, and capable development team.
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Uses
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Limited to:
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Initial feasibility study |
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Consulting fees |
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Cost of preliminary financial application |
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Fees for architects, legal, engineers, and development team |
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Site control expenses |
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Title clearance costs
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Pre-construction costs, including but not limited to:
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Cost of construction loan commitments |
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Architectural plans and specifications |
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Costs of zoning approvals |
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Costs of engineering studies |
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Legal fees
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Loan Terms
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None specified by HOME Program.
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None specified by HOME Program.
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Repayment
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Repaid from construction loan, other project income or wrapped into the final HOME assistance package to the CHDO.
May be waived if there are impediments to project development or if it is deemed infeasible.
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Repaid from construction loan, other project income or wrapped into the final HOME assistance package to the CHDO.
May be waived if there are impediments to project development or if it is deemed infeasible.
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