“Grant Opportunities Overview” September 13, 2005

HCDA Programs Homeownership Department Rental Housing Department Community Development Department

Homeownership Department First Home / First Home Plus  Current Rate is 5.15% - 30 Year Fixed Rate Mortgage Credit Certificate My Community Products  Community Mortgage 100% Option  Community Solutions  Community Home Choice

Rental Housing Department Rental Housing Tax Credits Multifamily Bond Program Mark-to-Market Section 8 Contract Administrator

Community Development Department Housing from Shelters to Homeownership Foundations CHDO Works Housing Opportunities for Persons With AIDS Individual Development Accounts Neighborhood Assistance Program HOME Owner-Occupied Rehabilitation Homeownership Education & Counseling Improving Neighborhoods Through Revitalization

Housing from Shelters to Homeownership Three Funding Sources HOME Investment Partnerships Program (HOME) Low Income Housing Trust Fund (LIHTF) Community Development Block Grants (CDBG)

What’s the Difference? Which Funds Should You Use? There are distinct differences in the 3 funding sources:  HOME and CDBG are grants  LIHTF is a loan  Term of Award  Match Requirements

Eligible Applicants HOME  Must be a not-for-profit, CHDO, public housing authority, local unit of government, townships, or joint venture CDBG  Must be a local unit of government LIHTF  Must be a not-for-profit, public housing authority, joint venture, or a for-profit organized under the State of Indiana

Restrictions on Development Location Entitlement Communities – Receive CDBG funds directly from HUD Participating Jurisdictions – Receive HOME funds directly from HUD Larger cities HCDA does not fund activities in these areas except for transitional housing or permanent supportive housing using HOME funds or any eligible activity using Trust Fund.

Eligible Activities - HOME Transitional Housing Rehabilitation / New Construction Rental Rehabilitation / New Construction Permanent Supportive Rehabilitation / New Construction Homebuyer Rehabilitation / New Construction

Funding Limitations - HOME Awards are made in the form of a grant with a 24-month term Maximum award amount is $750,000

Eligible Activities - CDBG Emergency Shelters Youth Shelters Transitional Housing Rehabilitation Migrant / Seasonal Farm Worker Housing Transitional Housing Rehabilitation Permanent Supportive Housing Rehabilitation Rental Rehabilitation Owner Occupied Rehabilitation Voluntary Acquisition / Demolition

Funding Limitations - CDBG Awards are made as a grant with an 18- month term Maximum award amount is $500,000 (Except OOR) Maximum award amount for owner- occupied rehabilitation is $300,000

Eligible Activities - LIHTF All previously mentioned activities Applicant proposes interest rate Applicant must provide security or collateral Construction financing for up to 3 years and/or short-term permanent financing up to 15 years with a maximum of 30-year amortization schedule

Funding Limitations - LIHTF $1,000,000 outstanding balance per applicant

Foundations Funding Source: HOME, CDBG, & LIHTF Eligible Applicant: According to funding source (only CHDOs eligible for HOME Foundations) Eligible Activities:  HOME – CHDO Predevelopment Loans & CHDO Seed Money Loans  CDBG – Housing Needs Assessments, Feasibility Studies, & Continuum of Care Strategic Plan  LIHTF – Predevelopment Loans & Seed Money Loans

CHDO Works Funding Source: HOME Eligible Applicant: Community Housing Development Organizations (CHDOs) Funding Limitations: Up to $70,000 in operating assistance for 2 years

Important Dates Housing from Shelters to Homeownership  Application Workshop: Wednesday, September 14 th in Rooms from 2:45 – 5:00 PM  Intent to Submit Form Deadline: September 21, 2005  Application Postmark Date: October 31, 2005  Award Announcements: January 26, 2006

Important Dates Continued…. CHDO Works and Foundations  Application Postmark Date: October 7, 2005  Award Announcements: December 15, 2005

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