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OHFA’s HOME Program
OKLAHOMA HOUSING FINANCE AGENCY
The HOME Investment Partnerships
Program
The Home Investment Partnerships Program (HOME)
provides a fl exible funding source to meet the State
of Oklahoma’s diverse affordable housing needs. The
HOME Program is a federal block grant governed by
HUD.
HOME funds
can be used for
a wide variety
of innovative
activities,
including new
construction or
rehabilitation of
single-family or multi-family units, down payment/closing
costs assistance for home loans and rental assistance.
All funds are targeted for families with incomes at or
below 80% of the area median income.
HOME Facts
HOME funds may be accessed by cities, counties,
towns, tribes, non-profi ts and Community Housing
Development Organizations (CHDOs). HOME funds
can also be utilized by CHDOs for capacity building,
operating expenses and for Project Specifi c Pre-
Development Loans.
OHFA has issued more than $87 million in HOME funds
since 1998 to rural communities looking to improve
affordable housing
opportunities in their
area. OHFA annually
issues approximately
$12 million in HOME
funds. When leveraged
with other fi nancing
resources, this results in
increased construction
activity statewide in
Oklahoma.
With every HOME dollar received, there is a match
requirement of 25 cents to be met with non-federal
contributions of cash, assets, services, labor and other
resources of value to the HOME Program.
There are subsidy limits within the HOME Program.
HOME imposes rent, income and occupancy
requirements over a period of affordability (between 5
and 20 years, depending on the type of activity).
HOME-assisted projects must meet strict property
standards.
The federal regulations require that the performance
of each entity receiving HOME funds must be reviewed
by OHFA at least annually. Any entity receiving HOME
funds for an eligible project must be monitored
to ensure compliance with applicable program
requirements.
OHFA has issued more than $87
million in HOME funds since 1998 to
rural communities looking to improve
affordable housing opportunities in their
communities. OHFA annually issues $12
million annually in HOME funds.
HOME Investment Partnerships Program
Object Description
Description
| Title | HOME Program 1 |
| Full text | OHFA’s HOME Program OKLAHOMA HOUSING FINANCE AGENCY The HOME Investment Partnerships Program The Home Investment Partnerships Program (HOME) provides a fl exible funding source to meet the State of Oklahoma’s diverse affordable housing needs. The HOME Program is a federal block grant governed by HUD. HOME funds can be used for a wide variety of innovative activities, including new construction or rehabilitation of single-family or multi-family units, down payment/closing costs assistance for home loans and rental assistance. All funds are targeted for families with incomes at or below 80% of the area median income. HOME Facts HOME funds may be accessed by cities, counties, towns, tribes, non-profi ts and Community Housing Development Organizations (CHDOs). HOME funds can also be utilized by CHDOs for capacity building, operating expenses and for Project Specifi c Pre- Development Loans. OHFA has issued more than $87 million in HOME funds since 1998 to rural communities looking to improve affordable housing opportunities in their area. OHFA annually issues approximately $12 million in HOME funds. When leveraged with other fi nancing resources, this results in increased construction activity statewide in Oklahoma. With every HOME dollar received, there is a match requirement of 25 cents to be met with non-federal contributions of cash, assets, services, labor and other resources of value to the HOME Program. There are subsidy limits within the HOME Program. HOME imposes rent, income and occupancy requirements over a period of affordability (between 5 and 20 years, depending on the type of activity). HOME-assisted projects must meet strict property standards. The federal regulations require that the performance of each entity receiving HOME funds must be reviewed by OHFA at least annually. Any entity receiving HOME funds for an eligible project must be monitored to ensure compliance with applicable program requirements. OHFA has issued more than $87 million in HOME funds since 1998 to rural communities looking to improve affordable housing opportunities in their communities. OHFA annually issues $12 million annually in HOME funds. HOME Investment Partnerships Program |
| Date created | 2013-04-03 |
| Date modified | 2013-04-03 |
