HOME Program Supports DED’s Objective of Promoting Quality Housing Opportunities for Low-Income Individuals, Families
The Nebraska Department of Economic Development (DED) has announced three recipients under the Community Housing Development Organization (CHDO) set-aside of the HOME Investment Partnership Fund (HOME) grant program.
Administered to states by the Federal Department of Housing and Urban Development (HUD), the HOME program is the nation’s largest federal resource dedicated to low- to moderate-income housing development.
DED awards HOME funds to eligible applicants on behalf of the State of Nebraska annually. The funds support projects that promote quality, affordable housing opportunities throughout Nebraska communities. As a condition of funding, DED and other states must set aside 15% of all annual HOME allocations for award to state nonprofits that meet the requirements to be an eligible organization under CHDO guidelines.
CDHOs are private nonprofit, community-based organizations that have the capacity to develop affordable housing for the communities they serve. CHDOs are unique from other HOME recipients in that they must meet stringent eligibility requirements, such as that of having a board of directors consisting of at least one-third low-income representatives.
DED awarded a total of $865,000 to three CHDOs during the current award cycle. They include High Plains Community Development Corp. ($50,000), NeighborWorks Northeast Nebraska ($566,000) and Lincoln County Community Development Corp. ($249,000). The former organization received funds for operating assistance, which will help it prepare for an upcoming housing development project; the latter two received funds to support housing purchase, rehabilitation and resale activities as well as low-income homebuyer down payment assistance.
“As Nebraska’s lead economic development agency, affordable housing is a key part of our mission,” said DED Director Dave Rippe. “We appreciate the financial resource we are able to provide through the HOME Investment Partnership program, and applaud the outstanding work of this year’s CHDO recipients. Their work on behalf of Nebraskans has a tremendous community impact, and is helping us work together to grow Nebraska.”
More information on the HOME Investment Partnership program can be found by visiting the DED website at www.opportunity.nebraska.gov.