Finish Smart: Upfront Financing Options and Year 15 Issues
This presentation, provided by
CohnReznick, is on affordable housing development, crucial year 15 stress
reduction, advice and insights along with LIHTC Options and Alternatives.
How to Sail Through an Audit
Compliance and audits are a fact of life when working in the
area of affordable housing. This presentation covers best
practices to ensure you sail through your next audit and complete all your
HOME Investment Partnership Program
The HOME Investment Partnership Program (HOME)
was created by the National Affordable Housing Act of 1990 and HOME funds
provide competitive funding to local government, non-profit, and private
developers. The purpose of the HOME Program is to provide a wide range of
activities that build, buy, and/or rehabilitate affordable housing for rent or
ownership or provide direct rental assistance to low-income people.
HOME Eligible Activities:
- Home buyer assistance (generally through Down Payment
Assistance (DPA) programs)
- Rehabilitation for Owner-Occupied Homes (Single-family
Owner-occupied (SFOO) programs)
- Rental Housing Acquisition, Rehabilitation and
- Tenant-Based Rental Assistance (TBRA)
The Community Development Block Grant
The Community Development Block Grant (CDBG)
program was passed by Congress as Title I of the Housing and Community
Development Act of 1974 to help cities address their community development
needs. In 1981, Congress amended the legislation to allow states to administer
CDBG funds to serve communities outside large cities and urban counties. The
law requires that seventy percent of all CDBG funds be spent on activities that
benefit low- or moderate-income people. The Division of Housing uses a portion
of the state's CDBG funding to provide or improve permanent residential
structures that will house low and moderate income households outside of larger
cities and counties, which are known as "entitlement areas."
Entitlement communities receive block grant funding directly from HUD.
CDBG Eligible Activities (Housing):
- Property acquisition
- Rehabilitation of property for permanent housing,
including rental housing and single-family owner-occupied housing.
- Down Payment Assistance programs (DPA)
- Conversion of non-residential structures into permanent
- New housing construction by a community-based
- Public services such as services for the homeless, or
removal of architectural barriers for the elderly or severely disabled, or
home ownership assistance.
The Community Reinvestment Act (CRA) prohibits discrimination against working class and minority neighborhoods. It also requires banks to serve these communities by assessing community needs, conducting outreach campaigns, and consulting with community stakeholders in developing financing options for affordable housing.
Click here to download the CRA Manual from the National Community Reinvestment Coalition.
This NOW! Track was sponsored by Holland & Hart LLC
The Action Campaign is a coalition of organizations working together to ensure that the LIHTC and other housing programs are retained by the government.
Be sure to check out the Colorado Fact Sheet while visiting the website.
Database of State Incentives for Renewables & Efficiency
Condo Approval Checklist
FHA Condo Approval Fact Sheet
Contributors: Funding Partners