HOME Investment Partnerships Program
The HOME Program provides rental and homeownership opportunities to low and very-low-income persons and families (as those terms are defined in the HOME Program regulations at 24 CFR Part 92) by increasing the stock of decent, safe, and sanitary affordable housing.
In accordance with Baltimore City's Consolidated Plan, which is updated every five years, DHCD uses HOME Program funds as gap financing for the hard costs of construction in projects of five or more units. Funds are normally limited to $30,000 per unit. These limits may be exceeded, up to the HOME Program regulatory limits, for good reason and at the sole discretion of the Deputy Commissioner of the Department of Housing and Community Development. Rental projects and projects providing for-sale housing for income-eligible homebuyers are eligible and may be rehabilitation or new construction. Assistance will be structured on a flexible basis. Developments will be expected to repay HOME loans if superior debt allows and/or on a cash flow basis.
Notice of Funding Availability (NOFA) - All Developers
DHCD typically releases a NOFA funding round for housing and community development projects in the spring/summer of each year.
NEW for 2022 - Due to the limited availability of HOME Investment Partnerships Program (“HOME”) funds relative to existing commitments, the Department of Housing and Community Development will forgo an annual Notice of Funding Availability (NOFA) for HOME funds ahead of the State’s 2022 9% Low-Income Housing Tax Credit round. Any funds not awarded to meet existing commitments will be awarded to the highest-scoring, unfunded project(s) from the prior Summer 2020 HOME NOFA round.
However, applicants to the State’s 2022 9% Low-Income Housing Tax Credit round are encouraged to contact the Department regarding a letter of support as part of their submission. This letter will indicate if a project is consistent with existing City priorities, plans, and objectives. Depending on the project’s eligibility, the letter may also reference other financing or support the City is able to offer at this time, such as Affordable Housing Payment in Lieu of Taxes Agreements (PILOTs), Seller’s Notes, or below market land transactions subject to the approval of the Board of Estimates. Applicants should contact Alexandra Hoffman, Director of Project Finance, regarding these requests at email@example.com or (443) 202-6385.
Community Housing Development Organizations
Subject to the availability of funds, proposals for HOME funding are accepted from Community Housing Development Organizations (CHDO) on a continuing basis.
For more information on submission requirements for CHDOs Click HERE.