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HOME
In partnership, the City and the Newport News Redevelopment and Housing Authority continued their
strong commitment to affordable housing in the City of Newport News. Affordable rental housing and
homeownership opportunities were created in FY 2023-2024 as discussed below.
Specific programs during the year included:
1. HOMEbuilder/HOMEbuyer (DPA) - HOME funded, deed restricted funds reserved
to provide down payment assistance, closing costs and gap financing to eligible buyers in the City of
Newport News. During the 2023-2024 program year, three (3) DPA applications were approved with the
number of beneficiaries totaling five (5). The amount of down payment assistance provided during PY
2023-2024 was $38,965.
2. HOMEVestor – During PY 2023-2024, there were no HOMEVestor projects funded.
We continue to look for projects to fund that align with our mission to create affordable housing for the
citizens of Newport News.
3. HOMEcare - HOME funded, deed restricted below market interest rate loans and
grants for the rehabilitation of owner-occupied homes in the city. One (1) owner-occupied property was
rehabilitated using HOMEcare funding during the 2023-2024 program year. HOME funds used totaled
$22,753.
4. Community Housing Development Organizations (CHDO) - The completion of three
(3) single family homes by Habitat for Humanity-Peninsula and Greater Williamsburg occurred during PY
2023-2024 using CHDO funding totaling $109,500. Two (2) homes received $50,000 each in HOME funding
- 651 45th Street and 1225 21st Street. The third home - 645 41st Street - received $4,950 for a privacy
fence to be installed. 651 45th Street also received $4,950 towards the installation of a privacy fence.
Identify the geographic distribution and location of investments
Target Area Planned Actual Percentage Narrative
Percentage of of Allocation Description
Allocation
NEIGHBORHOOD REVITALIZATION
STRATEGY AREA PLAN 50
TITLE 36 PLAN 50
Table 4 – Identify the geographic distribution and location of investment
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