HUD-1747-CPD, October 1998
This publication was designed to provide a brief overview of the HOME program, its role and purpose.
The guidebook provides a step-by-step description of how HOME funds are allocated, how local governments can apply for HOME funds, and the regulations and responsibilities governing how HOME funds can be used.
The process begins when a State, unit of local government or multi-jurisdiction consortium qualifies for a minimum direct allocation of HOME funds based on a formula established by Congress.
Jurisdictions with the capacity and desire to participate in the program prepare an annual Consolidated Plan containing specific information on how they will use their HOME funds.
Once the annual plan is approved by HUD, the participating jurisdiction can begin to commit HOME funds to activities that will improve housing opportunities for its low-income residents.
The guidebook discusses specific requirements concerning HOME funded tenant-based rental assistance, rental housing and homeownership housing activities.
The requirements for reaching families in greatest need, meeting property standards and making a 25 percent matching non-federal contribution to affordable housing are also described.
Finally, the guidebook stresses the importance of building partnerships with non-profit organizations and reserving at least 15% of a jurisdiction's annual HOME allocation for housing that will be owned, developed or sponsored by community housing development organizations (CHDOs).