HOME Investment Partnership Act
The HOME Investment Partnerships Program (HOME) provides formula grants to states and localities that communities use - often in partnership with local nonprofit groups - to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people. It is the largest Federal block grant to state and local governments designed exclusively to create affordable housing for low-income households.
The following programs are components of the HOME Investment Partnerships Program.
The HOME Opportunity Program provides down payment and closing cost assistance to low-income individuals and families who are trying to purchase a home.
The purpose of the Homeownership Development Program (HDP) is to provide decent housing with improved affordability. HDP funding may be used for real property acquisition and site improvements for new construction of permanent, single family housing. Eligible applicants include only participants in the USDA’s 523 self-help homeownership program, Community Land Trusts, and Habitat for Humanity organizations. HDP funds can only be used for eligible projects outside of the Municipality of Anchorage.
The GOAL program provides grants, federal tax credits and zero-interest federal loans to developers and project sponsors who build affordable rental housing for low- to moderate-income families and seniors. The program is open to for-profit corporations, nonprofit agencies and regional housing authorities. The following three programs fit under the GOAL umbrella.
The ORP program provides weatherization and rehabilitation to homes owned by low-income families.
Community Housing Development Organization (CHDO) Certification and the Operating Expense Assistance (OEA) Program
The OEA program provides direct operating expense funding to nonprofit organizations that have been certified by AHFC as a "Community Housing Development Organization (CHDO)" as defined under the HOME Investment Partnerships Program. The assistance is provided directly to the qualified nonprofit organization.
The TBRA Program provides eligible low-income families with financial assistance to obtain affordable housing. It helps families lease privately owned rental units from participating landlords. TBRA provides 12 months of rental assistance and security deposit assistance to eligible families.
HOME Rent Limits
HOME Income Limits
Planning and Program Development Department
Alaska Housing Finance Corporation
P.O. Box 101020
Anchorage, AK 99510-1020