Homeownership and Opportunity for People Everywhere (Hope I)

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Summary:
HOPE I helps low-income people buy public housing units by providing funds that nonprofit organizations, resident groups, and other eligible grantees can use to develop and implement homeownership programs.

Purpose:
Homeownership can be one key to self-sufficiency for low-income families, building assets for families and stability and pride for neighborhoods. Through HOPE I and other programs, HUD is working to make homeownership possible for thousands of families now living in public housing.

Type of Assistance:
HUD has awarded separate HOPE I planning and implementation grants on a competitive basis to help eligible applicants. These grants help public housing residents and other low-income families purchase public housing units, as well as to undertake a variety of activities that help them prepare for homeownership.

Eligible Grantees:
Eligible HOPE applicants include public housing authorities, resident management corporations, resident councils, nonprofit organizations, housing cooperatives, and public entities.

Eligible Customers:
Low-income families are targeted for homeownership in this program.

Eligible Activities:
HOPE I grants can be used to fund a wide range of homeownership activities that help public housing residents develop the skills, the resources, the partnerships, and the strategies they will need to buy their housing units, including:

• economic development planning, including job training and other activities that promote economic self-sufficiency for potential homebuyers.

• financial assistance to homebuyers, including interest rate buy-downs and downpayment assistance.

• rehabilitation of properties.

• relocation of residents who elect to move.

• administrative costs; legal fees, and architectural and engineering work.

• replacement housing and replacement reserves.

• resident and homebuyer counseling and training.

Application:
HUD does not anticipate accepting any further applications for HOPE I funding.

Funding Status:
HOPE I funds were last awarded in 1994. There are 30 existing implementation grants and 231 existing planning grants under the program.

Technical Guidance:
HOPE I is authorized by the National Affordable Housing Act (P.L. 101-625), which added a new Title III to the U.S. Housing Act of 1937. Program guidelines were published at 24 CFR, Subtitle A; but now program regulations are incorporated into each grant agreement. The HOPE I grants are administered by local HUD field offices. Contact the Community Relations and Involvement Specialist at the local HUD Field Office or the Homeownership Division of the Office of Public Housing Investments, Gary Van Buskirk, Homeownership Director, (202) 708-0614, ext. 4241.

For More Information:
HOPE I success stories and other program information are found in the HOPE I Program Fact Sheet available from the Resident Initiatives Clearinghouse, 1-800-955-2232. HOPE I Pathways to Homeownership is available from the Homeownership Division, Office of Public Housing Investments, HUD, 451 Seventh Street SW, Washington, DC 20410.