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The HOME program, created under Title II (the Home
Investment Partnerships Act) of the National Affordable Housing Act
of 1990, is a commitment to provide decent, safe, and affordable
housing and to alleviate the problems of excessive rent burdens,
homelessness and deteriorating housing stock. States are
automatically eligible for HOME allocations and receive either their
formula allocation or $3 million, whichever is greater. Oklahoma's
allocation has been in excess of $12 million. Oklahoma Housing
Finance Agency is the U.S. Housing and Urban Development (HUD)
designated State HOME Participating Jurisdiction (PJ). The cities of
Oklahoma City, Lawton, Norman and Tulsa Consortium are also
designated PJs and receive direct annual allocations of HOME Program
funds.
HOME funds are used to
Administer the HOME program
Provide development costs
Provide assistance for home purchase or rehabilitation
Assist low income renters
HOME funded projects must meet certain requirements regarding
Family income limits
Rent restrictions
Affordability period
HUD property value limits
Property standards
Matching requirements
Eligible applicants include
Non-profit organizations
Units of local governments
Indian tribes
Political subdivisions
CHDOs
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Housing
Development Team