The UCP will utilize no less than fifteen percent (15%) of its HOME annual allocation for Community Housing Development Organizations (CHDO) activities. HOME funds are allocated annually on an application basis to entities proposing programs or projects that address the stated HOME objectives.
A Developer, Owner, or Sponsor may be any for-profit or nonprofit organization or individual (other than a single family owner-occupant) seeking HOME funds for an eligible activity.
A Community Housing Development Organization (CHDO) is a private nonprofit organization that has among its purposes the provision of decent housing that is affordable to low- and moderate income persons as evidenced in its charter, articles of incorporation, resolutions, or by-laws. A CHDO may apply for funding in the capacity of a Developer, Owner, or Sponsor, but only CHDOs may apply for a HUD mandated set-aside percentage of local HOME funds. See “CHDO Qualifications Checklist” attached hereto as Exhibit “A” for organizational requirements of a CHDO.