Home Investment Partnerships Program
The Home Investment Partnership Program (HOME) is a grant program that provides funding to develop affordable housing to low and moderate income Hoosiers. Additionally, HOME builds the capacity of not-for-profit housing organizations, and leverage other private-sector participation. The HOME program provides funding for new construction and rehabilitation of homebuyer and rental activities. Developments funded with HOME have strict requirements on rent controls, income eligibility of tenants, housing development costs and long-term affordability requirements.
NEW - All requests for any activity eligible under the HOME program will now be required to submit proposals via IHCDA's new Strategic Investment Process. This process focuses investment efforts towards one or more of four strategic investment priorities as the basis for consideration. Please see the link provided for details on the process and policy established.
Interested? Please contact the Real Estate Production Analyst in your area to learn about IHCDA's new process. Please see the links below to view staff and their contact information.
Real Estate Production Analyst Map
Real Estate Production Analyst Listing by County
Click here to view a list of IHCDA's CHDOs - Community Housing Development Organizations (Updated August 2012)
Click here for the Strategic Investment Program Manual
2012 HOME Rent and Income Limits - Click here to view RED-11-32
Community Housing Development Organizations (CHDOs)
Background/What is a CHDO?A Community Housing Development Organization (CHDO) is an entity that has met specific requirements per the regulations that govern the HOME Investment Partnerships Program (HOME).
Under the HOME Final Rule (24 CFR Part 92), IHCDA must reserve no less than 15% of its HOME allocations for investment in housing to be owned, developed, or sponsored by CHDOs.
Unless otherwise announced, IHCDA will accept applications for CHDO funds only from IHCDA-certified CHDOs for activities that are located outside of participating jurisdictions (i.e., communities that receive HOME funding directly from HUD). The only exception to this would be any activity that is specifically referenced for use of HOME funds within the most current Indiana Consolidated Plan.
Any not-for-profit organization receiving IHCDA HOME-CHDO funding must be certified by IHCDA. For additional information on CHDO, please review the following:
How to Become a CHDO
Additional HUD Guidance
How to apply?
Application forms to be completed to apply for CHDO status, are located on the HOME page of IHCDA’s website.
Click here to access the forms.
Benefits of Being a CHDO
Any not for profit organization that has 501©3 status from the IRS is eligible to apply for HOME funds for a variety of housing activities. CHDOs, through the Strategic Investment Process, have the benefit of also applying for:
1. CHDO Operating Grants
2. Site-specific Predevelopment and/or Seed Money Loans for subsequent HOME-CHDO projects
NOTE– only homebuyer or rental housing where the CHDO acts as the owner, developer, or sponsor) qualify as HOME-CHDO projects. These projects can be new construction or rehabilitation.
Maintaining CHDO Status
IHCDA-certified CHDOs will need to verify compliance with the regulations to maintain CHDO status on an annual basis. This process typically occurs during the month of October each year. IHCDA staff will provide all IHCDA CHDOs with documentation to complete for review.
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