At least 15 percent of HOME Investment Partnerships Program (HOME) funds must be set aside for specific activities to be undertaken by a special type of nonprofit called a Community Housing Development Organization (CHDO). A CHDO is a private nonprofit, community-based organization that has staff with the capacity to develop affordable housing for the community it serves. In order to qualify for designation as a CHDO, the organization must meet certain requirements pertaining to their legal status, organizational structure, and capacity and experience.
With Participating Jurisdiction (PJ) approval, CHDOs may use HOME funds for designated eligible HOME activities. However, in order to count towards the 15 percent set-aside, a CHDO must act as the owner, developer, or sponsor of a project that is an eligible set-aside activity. The Consortium allows for the development of rental or home buyer housing. Proposed projects will be underwritten to include; community impact, developer capacity and experience, all necessary financing has been secured, feasibility and readiness to proceed.