Metropolitan Development and Housing Agency | HOME
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HOME INVESTMENT PARTNERSHIPS PROGRAM (HOME)

The HOME Investment Partnerships Program (HOME)



The HOME Investment Partnerships Program (HOME) is a federal entitlement program, which was established by the National Affordable Housing Act of 1990.  As a HOME participating jurisdiction, the Metropolitan Government receives an annual allocation of funds directly from the U.S. Department of Housing and Urban Development.

The primary objective of HOME is to expand the supply of decent, safe and affordable housing for low- and moderate-income families.  HOME funds for homeownership projects must be used to benefit persons who earn less than 80% of the area median income for Nashville and Davidson County (AMI), while rental projects must benefit persons who earn less than 60% AMI.  Recipients of HOME subsidies must agree to maintain affordability for a specified period of time based on the amount of subsidy received.

For the 2016-2017 Program Year, Metro Nashville received an allocation of $1,829,517. Combined with $230,000 in estimated Program Income and $755,000 in carryforward funds, the total HOME budget for the year is $2,814,517.   The HOME allocation must be matched by other local public or private monies at a rate of 25%.  Typically, this match requirement is met through the valuation of property and non-federal funds in a project.  Funds are allocated as followed:

 

2016 HOME Activity Budget

Activity Allocation Est. Program Income Carryforward TOTAL by Activity Goals
Administration $181,975.00 $23,000.00 $0.00 $204,975.00  
Homebuyer Programs $400,000.00 $60,000.00 $40,000.00 $500,000.00 6 homes
Homeowner Rehab $0.00 $0.00 $115,000.00 $115,000.00 1 home
Rental Projects $1,247,542.00 $147,000.00 $600,000.00 $1,994,542.00 40 units
TOTAL by Fund Type $1,829,517.00 $230,000.00 $755,000.00 $2,814,517.00  

HOME Activities



2016 HOME Activity Budget

Activity Allocation Est. Program Income Carryforward TOTAL by Activity Goals
Administration $181,975.00 $23,000.00 $0.00 $204,975.00  
Homebuyer Programs $400,000.00 $60,000.00 $40,000.00 $500,000.00 6 homes
Homeowner Rehab $0.00 $0.00 $115,000.00 $115,000.00 1 home
Rental Projects $1,247,542.00 $147,000.00 $600,000.00 $1,994,542.00 40 units
TOTAL by Fund Type $1,829,517.00 $230,000.00 $755,000.00 $2,814,517.00  

 

Administration: MDHA Community Development Department staff provide grant management and oversight of the HOME Program.

Homebuyer Programs: Funds will be made available to qualified developers for projects that will provide affordable homeownership opportunities for sale to households with incomes ≤ 80% AMI. MDHA IS CURRENTLY ACCEPTING APPLICATIONS FROM NONPROFIT DEVELOPERS. CLICK HERE FOR MORE INFORMATION.

Homeowner Rehab: Assistance will be provided for large-scale rehabilitation or reconstruction of owner-occupied homes.  Applicants will be referred from the CDBG Homeowner Rehab Program.

Rental Programs: Funding is available for construction of new units for rent to households with incomes ≤ 60% AMI.

– RAD Set-aside.  $500,000 will be set-aside for projects undertaken by MDHA associated with the redevelopment of MDHA-owned properties converted under the Rental Assistance Demonstration (RAD) program.

– CHDO Set-aside.  A minimum of $375,000 will be available for eligible Community Housing Development Organization (CHDO) projects.  To qualify, nonprofits must meet the HUD legal, organizational, and capacity requirements.  MDHA IS CURRENTLY ACCEPTING APPLICATIONS FROM NONPROFIT DEVELOPERS. CLICK HERE FOR MORE INFORMATION.

– Remaining HOME funds. $1,119,542 will be made available to qualified developers by application for new construction. MDHA IS CURRENTLY ACCEPTING APPLICATIONS FROM NONPROFIT DEVELOPERS. CLICK HERE FOR MORE INFORMATION.

Additional Home Resources



HUD HOME Investment Partnerships Program Website: https://www.hudexchange.info/programs/home/

 

Program Contact

Angela Harrell, Senior Development Specialist
MDHA Community Development Department
712 South Sixth Street
615-252-8422
aharrell@nashville-mdha.org

 

Visit our Housing Programs page for information on all affordable housing programs managed by the Community Development Department.