CHDOs as Developer or Sponsor

Information by State  Print version   Related Information The key words below offer an explanation of each CHDO role and examples of CHDOs serving those roles.   Developer   Sponsor   Owner How to Beome a CHDO   Characteristics   Roles and funding   Special assistance   Use of funds Related Information The HOME affordability requirements for the project are the responsibility of the owner or subsequent owners of the property.

The CHDO developer and sponsor roles are similar in many ways.

In both roles, the CHDO carries out the principal project development activities, such as acquisition, financing, construction management, and assembling a capable development team to bring a project from conception to completion.

	However, as developer, the CHDO need not own the property.
	As sponsor, the CHDO must own the property and shift the responsibility to another nonprofit at a specified time in the development process. This transfer could occur, for example, at the:   Initiation of the construction,   Completion of the construction, or   Issuance of the certificate of occupancy.