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Community Housing Development Organizations (CHDOs)

 

Description: C:\Users\School\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.IE5\7L7U650L\MC900442009[1].pngInner-city is a Community Development Organization (CHDO) - certified through Louisiana Housing Finance Agency & City of Alexandria, LA Housing Development Office

 

 

CHDO Certification Description

C-H-D-O, Community Housing Development Organization, is pronounced "cho-do." Under HOME, 15 percent of the HOME funds allocated to every PJ (a participating jurisdiction - city, County, multi-jurisdictional consortium, or state) are set aside for projects developed by CHDOs. The 15 percent CHDO set aside is Congress's explicit effort to direct HOME program funds into the hands of nonprofit developers.

What is a CHDO?

As a private nonprofit organization with a 501 (c) federal tax exemption, the CHDO must include providing decent, affordable housing to low-income households as one of its purpose in its charter, articles of incorporation, or by-laws. It must serve a specific, delineated geographic area; either a neighborhood, several neighborhoods, or the entire community, but not the entire state.

 

How To Apply

For additional information please contact Inner-city Revitalization Corporation at (318) 442-15024.

Single Family Development (SFD) Program

Overview

HOME provides funding to nonprofits certified as a Community Housing Development Organizations (CHDOs) for the new construction or rehabilitation of affordable single family homes. Single family homes built or rehabilitated with the assistance of HOME funds must comply with required income restrictions and follow certain design and quality requirements. Development funds are awarded on a first-come first-served basis through an application submitted in response to the published Notice of Funding Availability (NOFA).

 

Multifamily (Rental Housing) Program

Overview

HOME provides funding to Units of General Local Governments, Public Housing Authorities, nonprofits, and for profit entities for the new construction or rehabilitation of affordable multifamily rental developments. The proposed development must include at least eight (8) units of multifamily rental housing to be eligible for funding.

 

 

Inner-City Revitalization Corporation © | 1902 Main Street | P.O. Box 908 | Alexandria, LA | 71309 | Phone: (318)442-1502 | Fax: (318)487-6935 | Contact Us