Home Investment Partnerships Program

 

To expand the supply of affordable housing, particularly rental housing, for low and very low income Americans; to strengthen the abilities of State and local governments to design and implement strategies for achieving adequate supplies of decent, affordable housing; and to extend and strengthen partnerships among all levels of government and the private sector, including for-profit and nonprofit organizations, in the production and operation of affordable housing.

General information about this opportunity
Last Known Status
Active
Program Number
14.239
Federal Agency/Office
Agency: Department of Housing and Urban Development
Office: Office of Community Planning and Development
Type(s) of Assistance Offered
FORMULA GRANTS
Program Accomplishments
Fiscal Year 2014: Fiscal year 2014 39,825 units completed; 11,744 units of tenant-based rental assistance. Fiscal Year 2015: est. of 32.742 units completed; est. of 7,491 units of tenant-based rental assistance. Fiscal Year 2016: Fiscal year 2016 est. 38,665 units completed; 8,813 units of tenant-based rental assistance.
Authorization
National Affordable Housing Act 1990, Title II.
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
States, cities, urban counties, and consortia (of contiguous units of general local governments with a binding agreement) are eligible to receive formula allocations; funds are also set aside for grants to Insular Areas.
Beneficiary Eligibility
For rental housing, at least 90 percent of HOME funds must benefit low and very low income families at 60 percent of the area median income; the remaining ten percent must benefit families below 80 percent of the area median. Assistance to homeowners and homebuyers must be to families below 80 percent of the area median.
Credentials/Documentation
Receipents must certify they will meet program requirements and applicable federal requirements. 2 CFR 200, Subpart E - Cost Principles applies to this program.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is required. An environmental impact statement is required for this program. This program is excluded from coverage under E.O. 12372.
Application Procedure
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Submit a Consolidated Plan, an annual action plan and certifications to HUD. The Consolidated Plan and annual action plan cover four major formula-distribution HUD community development programs, including HOME. The annual action plan must describe how the funds will be used.
Award Procedure
The responsible HUD Field Office notifies grantees of the formula awards. HUD prepares the grant agreement for formula applicants.
Deadlines
Nov 15, 2015 to Aug 16, 2017 Action plans should be submitted to HUD at least 45 days before the start of the program year. In no event will HUD accept a submission earlier than November 15 or later than August 16 of the federal fiscal year for which funds are allocated.
Approval/Disapproval Decision Time
HUD will review for completeness and consistency with the purposes of the Act, within 45 days of receipt from a jurisdiction.
Appeals
Formula allocations may not be appealed.
Renewals
Every fifth year, localities submit a Consolidated Plan. Each year jurisdictions must submit an action plan and certifications.
How are proposals selected?
Not Applicable.
How may assistance be used?
For use by participating jurisdictions or Insular Areas for housing rehabilitation, tenant-based rental assistance, assistance to homebuyers, acquisition of housing and new construction of housing. Funding may also be used for other necessary and reasonable activities related to the development of non-luxury housing, such as site acquisition, site improvements, demolition and relocation. Ten percent of a participating jurisdiction's allocation may be used for administrative costs. Funds may not be used for public housing modernization, matching funds for other Federal programs, reserve accounts or operating subsidies for rental housing, Annual Contributions Contracts, or activities under the Low Income Housing Preservation Act except for priority purchasers.
What are the requirements after being awarded this opportunity?
Reporting
Financial management and annual performance reports. No cash reports are required. No progress reports are required. No expenditure reports are required. No performance monitoring is required.
Auditing
In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503.
Records
Records which enable HUD to determine whether the participating jurisdiction has met the requirements of the program must be kept for the most recent five year period. Those records required to document the period of affordability must be maintained for five years beyond the required period.
Other Assistance Considerations
Formula and Matching Requirements
Statutory Formula: Title HOME Investment Partnership Program, Chapter 24, Part 92, Subpart A-M. The formula is a system of factors established to reflect a jurisdiction's need for an increased supply of affordable housing for low and very low income families. Designed by HUD to meet statutory criteria, it is based on a jurisdiction's inadequate housing supply, substandard housing, the number of low-income households in housing units likely to be in need of rehabilitation, the cost of producing housing, poverty, and the relative fiscal incapacity of the jurisdiction to carry out housing activities without federal assistance. Each jurisdiction must make matching contributions for affordable housing throughout a fiscal year in an amount not less than 25 percent of the HOME funds drawn from the U.S. Treasury during the federal fiscal year for projects. Jurisdictions in fiscal distress receive full or partial (50 percent) relief from this requirement.
Matching Requirements: Percent: 25.%.
This program does not have MOE requirements.
Length and Time Phasing of Assistance
Grant funds are drawn down from the U. S. Treasury based upon individual project development progress. The HOME program uses an electronic fund transfer disbursement and information system. Once drawn down, funds must be expended within fifteen days. All funds must be committed within 24 months and expended within 5 years. Method of awarding/releasing assistance: lump sum.
Who do I contact about this opportunity?
Regional or Local Office
See Regional Agency Offices. Contact appropriate HUD Field Office listed in Appendix IV of the Catalog.
Headquarters Office
Virginia Sardone 451 7th Street, S.W. room 7164, Washington, District of Columbia 20410 Email: Virginia.Sardone@hud.gov Phone: 202-708-2685 Fax: 202-708-1744
Website Address
http://www.hud.gov/homeprogram/
Financial Information
Account Identification
86-0205-0-1-604.
Obligations
(Formula Grants) FY 14 $1,023,768; FY 15 est $936,179; and FY 16 est $1,045,939
Range and Average of Financial Assistance
$123,660 to $58,228,255; $1,575,176 average.
Regulations, Guidelines and Literature
24 CFR Part 92.
Examples of Funded Projects
Not Applicable.

 



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