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9
HOME
Per the PR27, unexpended HOME funds of $3,998,321.45 were available prior to the HUD award of
$800,546.55 in entitlement HOME funds and Program Income of $82,488.01 bringing the total
available for HOME eligible projects or activities to $4,078,376.01. Of that total, $80,054.66 was
expended during the Program Year.
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 2024-2025 as discussed below.
Specific programs during the year included:
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 2024-
2025 program year, four (4) DPA applications were approved with the number of beneficiaries totaling nine
(9). The amount of down payment assistance provided during PY 2024-2025 was $67,841.
HOMEVestor – During PY 2024-2025, 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.
HOMEcare - HOME funded, deed restricted below market interest rate loans and grants for the
rehabilitation of owner-occupied homes in the city. No HOMEcare projects were completed in 2024-2025.
Community Housing Development Organizations (CHDO) - The completion of two (2) single family homes
by Habitat for Humanity-Peninsula and Greater Williamsburg occurred during PY 2024-2025 using CHDO
funding totaling $109,900. Two (2) homes received $50,000 each in HOME funding -
Both homes also received $4,950 for a privacy fence.
Identify the geographic distribution and location of investments
Target Area
Planned % of
Allocation
Actual % of
Allocation
Narrative Description
NEIGHBORHOOD REVITALIZATION
STRATEGY AREA PLAN
50
0
TITLE 36 PLAN
50
50
One DPA home and two
CHDO-built homes were
purchased in the Title 36 Plan
area
City-wide
50
Two DPA homes were
purchased in other areas of
NN
Table 4 – Identify the geographic distribution and location of investmentJump to an indexed page (39 of 39)