 |
|
|||||
 |
 |
 |
 |
This program supplies permanent financing for the development of rental housing opportunities for low and very low income households. Projects are provided with subordinate, deferred mortgage loans payable on resale, refinancing, or default. Approximately 60 to 70 units can be assisted with HOME funds annually at the current funding level. A portion of funds under this program is reserved for the exclusive use of community housing development organizations (CHDO), a subset of non-profit housing providers meeting the federal CHDO definition. Both for and non-profit sponsored projects are eligible for financing. Twenty percent of the HOME units must be rented to households earning less than 50% of the median area income and the balance of units must be targeted to households earning 60% or less of the median area income. HOME funds are allocated on a competitive basis two times annually.
NOTICE TO PROJECT APPLICANTS
RE: CAPITAL SUBSIDY PROGRAM
Due to the increased demand for capital subsidy resources above and beyond our annual HOME allocation, the Authority may approve use of discretionary sources of capital subsidy (e.g., the Authority’s Affordable Housing Fund) to be loaned as “HOME-like” funds. Please refer to the enclosed New Hampshire Housing HOME Investment Partnerships Program Rules and HUD Regulations 24 CFR Part 92 when planning your project. These rules will pertain to all projects approved for capital subsidy allocations.
HOME Rules Appendix A (HUD Income Limits)
HOME Rules Appendix B (HUD Rent Limits)
HOME Rules Appendix C (HUD Per Unit Subsidy Limits (221(d)3 limits) - updated 2/7/12
HUD 24 CFR Part 135 – Section 3 Forms and Documents:
24 CFR Part 135 - Section 3
Section 3 Legal Notice MS Word version / Adobe Acrobat version
Section 3 Clause
Section 3 Summary Report (HUD Form 60002)
Interim Threshold Requirements to Comply with Section 3
Threshold Requirements Checklist
Section 3 Resident Certification of Eligibility
Section 3 Business Concern Certification of Eligibility
Minority Business Enterprises and Women Business Enterprises Summary Report
