| HOME funds are awarded annually through a competitive application process to cities, counties and non-profit organizations outside the local participating jurisdictions. Community housing development organizations (CHDOs) are eligible to apply for State HOME funds only if the proposed project is outside most HOME local participating jurisdictions. THDA anticipates an allocation of $16-17 million in Fiscal Year 2008.
ELIGIBLE APPLICANTS
Applicants with previous HOME grants must meet draw down requirements by February 28, 2008 to be eligible to apply. Applicants with 2006 HOME grants must have requested at least 50% of their grant; applicants with 2005 HOME funds must have requested 75% of their grant; and applicants with 1992 through 2004 HOME funds must have requested 100% of their grant.
GRANT AMOUNT
The maximum HOME grant is $500,000. Applicants must apply for at least $100,000.
HIGHTLIGHTS FOR 2008
- The maximum HOME funds that can be awarded to any one county has been increased to $750,000.
- In order to keep within the $750,000 county maximum, multiple applications from the same county will be reduced to no less than $250,000.
- The maximum that can be charged as soft costs for inspections and work write-ups will be 7% of the hard costs, not to exceed $2,100.
- Innovation has been eliminated as a category on the scoring matrix.
- Leverage has been added as a category to the scoring matrix. Projects that leverage funds from other sources will be awarded up to 10 points.
- Energy Conservation has been added as a category to the scoring matrix. Up to 10 points will be awarded to projects that include energy conservation measures that exceed those required by local codes or the International Code, as applicable.
- Three-Star Program has been added as a category to the scoring matrix. Up to 10 additional points will be awarded to applications from communities participating in the Department of Economic and Community Development’s Three-Star Program with a housing component.
- CHDOs may apply for State HOME funds for projects in the following local participating jurisdictions: Clarksville, Jackson, Knox County and Shelby County. The proposals will be limited to $500,000 in combined HOME funding from the State and the local participating jurisdiction.
For
more information, you may contact Coralee
Holloway, Director of Community Programs at (615) 741-3007. |
