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HOME Investment Partnership Program (HOME)
Reference 24 CFR 91.220(l)(2)
1. A description of other forms of investment being used beyond those identified in Section 92.205 is
as follows:
N/A
2. A description of the guidelines that will be used for resale or recapture of HOME funds when used
for homebuyer activities as required in 92.254, is as follows:
Recapture of Home funds is governed by the affordability period set forth in CFR 24 92.254 and
copied below.
Homeownership assistance
HOME amount per-unit Minimum period of affordability in years
Under $15,000 5
$15,000 to $40,000 10
Over $40,000 15
3. A description of the guidelines for resale or recapture that ensures the affordability of units acquired
with HOME funds? See 24 CFR 92.254(a)(4) are as follows:
Each year that the owner-occupant owns the subsidized home, the recapture amount decreases
proportionately to the number of years the affordability period.
Five-year affordability period - 20% is forgiven each year
Ten-year affordability period - 10% is forgiven each year
Fifteen-year affordability period - 6.67% is forgiven each year
4. Plans for using HOME funds to refinance existing debt secured by multifamily housing that is
rehabilitated with HOME funds along with a description of the refinancing guidelines required that
will be used under 24 CFR 92.206(b), are as follows:
N/A
5. If applicable to a planned HOME TBRA activity, a description of the preference for persons with
special needs or disabilities. (See 24 CFR 92.209(c)(2)(i) and CFR 91.220(l)(2)(vii)).
N/A
6. If applicable to a planned HOME TBRA activity, a description of how the preference for a specific
category of individuals with disabilities (e.g. persons with HIV/AIDS or chronic mental illness) will
narrow the gap in benefits and the preference is needed to narrow the gap in benefits and services
received by such persons. (See 24 CFR 92.209(c)(2)(ii) and 91.220(l)(2)(vii)).
N/A
7. If applicable, a description of any preference or limitation for rental housing projects. (See 24 CFR
92.253(d)(3) and CFR 91.220(l)(2)(vii)). Note: Preferences cannot be administered in a manner that
limits the opportunities of persons on any basis prohibited by the laws listed under 24 CFR 5.105(a).
N/A
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