HOME Investment Partnership Program (City of Chattanooga)

HOME Investment Partnership Program (City of Chattanooga) is sponsored by City of Chattanooga. The HOME Program provides federal funds to state and local governments to carry out multi-year housing strategies through acquisition, rehabilitation, and new construction of housing units, in addition to tenant-based assistance.

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3. Explore Permits & Applications # HOME Investment Partnership The HOME Investment Partnership Act (HOME) enables the City to provide affordable housing to low- and moderate-income persons. The HOME Program provides federal funds to state and local governments to carry out multi-year housing strategies through acquisition, rehabilitation, and new construction of housing units in addition to tenant-based assistance.

The City's HOME projects are carried out primarily through partnerships with local non-profit housing organizations, for-profit developers, homeless services providers, and other housing assistance partners. Applications for these funds are accepted on a continuous basis. ### What Are The Requirements?

HUD requires a 15% set aside of HOME funds to be earmarked for Community Housing Development Organizations (CHDOs). These funds are for the development of affordable housing by an agency meeting a specific set of requirements that qualify them as a CHDO. CHDO status must be established prior to applying for HOME CHDO set-aside funds.

The City of Chattanooga makes HOME funds available for any HOME-eligible activity which assists the City in addressing the housing needs outlined in the2020-2024 Consolidated Plan. It includes homeownership, homeowner acquisition, rehabilitation, and/or new construction of rental housing projects.

**Please note:** the City of chattanooga accepts applications from qualified non-profit and for-profit developers to produce and/or preserve affordable housing using HOME funds. ### Some Conditions And Restrictions On This Application Prior to completing a full application, to preliminarily determine whether a proposed project is eligible, interested applicants can start by completing and submitting an Intent to Apply.

For questions, please contact the Housing and Community Investment Division athci@chattanooga. gov. Available funds are estimated to range from $650,000 to $5 million. The level of available funds remains fluid as sources may include current-year federal allocations and funds being reallocated from stalled projects.

The City funds will only be provided as gap financing that is unavailable from other sources. The maximum assistance provided to a project will be based on minimum HOME funds needed to assist with the demonstrated funding gap and the City balance of funding available to commit. Read and review HOME guidelines, policies and procedures.

Read GuidelinesRead Policies and Procedures Read Policies and ProceduresRead Guidelines Download the application form below and fill it it: There is no fee to apply. ### Approval Process / Evaluation Applications for funding will be accepted on a rolling basis, and funds are awarded on a first come first served basis until all grant funds are allocated.

### Supporting Materials for Application * HOME Investment Partnership Act (HOME) * HOME Policies and Procedures * Overview and Guidelines * HOME Multifamily Underwriting Template * 2024 HOME Rent and Income Limits * Rehab/Development Cost & Specifications * Chattanooga Underwriting and Subsidy Layering Guidelines * HOME Project Scoring Sheet * Community Development Grants Training Workshop (423) 643-7353 (423) 643-7353 (423) 643-7333 (423) 643-7333 Thank you for your feedback Please choose the type of issue you are experiencing with the page from the dropdown.

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