Commitment to a Specific Local Project
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Commitment to a specific local project means that a legally binding agreement was executed meeting
one of the following sets of requirements:
- For rehabilitation or new construction projects, the PJ (or other entity) and the project owner
will execute an agreement for an identifiable project under which construction can reasonably be
expected to start within 12 months of the agreement date. If the project is owned by the PJ or State
recipient, the project must be set up in the Integrated Disbursement and Information System (IDIS)
and construction must be reasonably expected to start within 12 months of the set-up date.
- For projects consisting of the acquisition of standard housing by the PJ, the agreement must be
a binding contract for the sale of an identifiable property and the property title must be transferred
to the PJ (or other entity) within six months of the date of the contract.
- For projects involving the acquisition of standard housing and where the PJ is providing HOME
funds to a purchaser under the agreement, the title of the property must be transferred to the purchaser
within six months of the agreement date.
- For projects consisting of tenant-based rental assistance (TBRA), the PJ must enter into a rental
assistance contract with the owner or the tenant in accordance with the provisions of 24 CFR Part
92.209.
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Community Development Block Grant (CDBG)
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Federal funding that allows communities to create flexible, locally designed comprehensive community
development strategies to enable them to develop viable urban communities (Title I, Housing and Community
Development Act of 1974).
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Community Housing Development Organization (CHDO)
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A private, nonprofit organization that meets a series of qualifications prescribed in the HOME regulations
at 24 CFR Part
92.2. A participating jurisdiction must award at least 15 percent of its annual HOME allocation to
CHDOs. CHDOs may own, develop, or sponsor HOME-financed housing.
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Consolidated Plan
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A plan of up to five years in length that describes a community's needs, resources, priorities, and proposed
activities to be undertaken with certain HUD funding, including funding under the HOME Program. The
Consolidated Plan is updated annually.
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Consortium
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Geographically contiguous units of general local government consolidated to be in a single unit of
general local government for HOME Program purposes when certain requirements are met.
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Draw-Down
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The process of requesting and receiving HOME funds. PJs and authorized State recipients draw
down funds from a line of credit established by HUD.
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Elder Cottage Housing Opportunity (ECHO) units
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Small, free-standing, barrier-free, energy-efficient, and removable units designed to be installed
adjacent to existing single-family dwellings.
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Final Rule
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The Final HOME Rule was published at 24 CFR
Part 92 on September 16, 1996, and became effective on October 16, 1996.
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Group Home
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Housing occupied by two or more single persons or families consisting of common space and/or facilities
for group use by the occupants of the unit and (except in the case of shared one-bedroom units) separate
private space for each family.
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HOME-Assisted Units
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Units within a HOME project for which rent, occupancy, and/or long-term affordability restrictions apply.
The number of units designated as HOME-assisted affects the maximum HOME subsidies that may be
provided to a project.
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HOME Funds
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All appropriations for the HOME Program, plus all repayments and interest or other return on the
investment of these funds.
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HOME Investment Trust Fund
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The term given to the two accounts -- one at the Federal level and one at the local level
-- that "hold" the participating jurisdiction's HOME funds. The Federal HOME Investment Trust
Account is the U.S. Treasury account for each participating jurisdiction. The local HOME Investment
Trust Fund account includes repayments of HOME funds, matching contributions, and payment of
interest or other returns on investment.
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HOME Investment Partnerships Act (HOME)
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The act that created a formula-based allocation program intended to support State and local
affordable-housing programs. The goal of the program is to increase the supply of affordable rental
and ownership housing through acquisition, construction, reconstruction, and moderate or substantial
rehabilitation activities (Title I, National Affordable Housing Act of 1990).
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Household
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One or more persons occupying a housing unit.
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HUD
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The U.S. Department of Housing and Urban Development.
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Insular Areas
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Guam, the Northern Mariana Islands, the United States Virgin Islands, and American Samoa.
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Jurisdiction
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A State or unit of general local government.
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Low-Income Family
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A family whose annual (gross) income does not exceed 80 percent of the median family income
for the area (adjusted for family size). HUD may establish, on an exception basis, income ceilings
higher or lower than 80 percent of median income for an area.
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Match
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Match is a PJ's contribution to the HOME Program - the local, non-Federal contribution to the
partnership. The PJ's match contribution must equal not less than 25 percent of the HOME funds
drawn down for projects in that fiscal year.
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National Affordable Housing Act of 1990 (NAHA)
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Enacted by Congress to authorize the HOME Investment Partnerships Program, the National
Homeownership Trust program, and programs to amend and extend certain laws relating to
housing, community, and neighborhood preservation and related programs.
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Neighborhood Revitalization Strategy
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A comprehensive approach to addressing economic development needs in a neighborhood within a
community, submitted as part of (or an amendment to) a PJ's Consolidated Plan.
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New Construction
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The creation of new dwelling units. Any project that includes the creation of additional dwelling
units outside the existing walls of a structure is also considered new construction.
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Participating Jurisdiction (PJ)
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The term given to any State or local government that HUD has designated to administer a HOME
Program. HUD designation as a PJ occurs if a State or local government meets the funding thresholds,
notifies HUD that it intends to participate in the program, and obtains approval by HUD of a Consolidated
Plan.
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Priority Purchaser
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A resident council organized to acquire a project in accordance with a resident homeownership program,
or any nonprofit organization or State or local agency that agrees to maintain low-income affordability
restrictions for the remaining useful life of the project. Organizations or agencies affiliated with a for-profit
entity for the purposes of purchasing a property do not qualify as priority purchasers.
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Program Income
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Gross income received by the PJ, State recipient, or a subrecipient directly generated from the use of
HOME funds or matching contributions.
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Project
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One or more buildings on a single site or multiple sites that are under common ownership,
management, and financing and are to be assisted with HOME funds as a single undertaking.
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Project Completion
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The stage at which all necessary title transfer requirements and construction work have been
performed; the project complies with all HOME requirements; the final draw-down has been
disbursed for the project; and the project completion information has been entered in the
Integrated Disbursement and Information System (IDIS) established by HUD. For tenant-based
rental assistance (TBRA), project completion means the final draw-down has been disbursed for
the project.
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Reconstruction (also rehabilitation)
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The rebuilding, on the same lot, of housing standing on a site at the time of project commitment
(see definition of "commitment" above). The number of housing units on the lot may not be changed
as part of the reconstruction project, but the number of rooms per unit may change. Reconstruction
also includes replacing an existing substandard unit of manufactured housing with a new or standard
unit of manufactured housing.
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Section 8 Existing Rental Assistance
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A Federal program that provides rental assistance to low-income families who are unable to afford
market rents. Assistance may be in the form of vouchers or certificates. |
Single-Room Occupancy (SRO)
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Housing consisting of single-room dwelling units that are the primary residence of their occupants.
Each unit must contain food preparation and/or sanitary facilities if the project involves new construction,
conversion of non-residential space, or reconstruction. If the units do not contain sanitary facilities, the
building must contain sanitary facilities shared by the tenants.
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State Recipient
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State PJs can award their HOME funds to units of local governments to run HOME locally. Any
unit of local government designated by a State to receive HOME funds is called a "State recipient."
The State is responsible for ensuring that HOME funds allocated to State recipients are used in
accordance with the HOME regulations and other applicable laws.
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Subrecipient
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A public agency or nonprofit organization selected by a participating jurisdiction to administer all or a
portion of the participating jurisdiction's HOME Program. A public agency or nonprofit organization that
receives HOME funds solely as a developer or owner of housing is not a subrecipient.
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Targeting
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Requirements of the HOME Program relating to the income or other characteristics of households
that may occupy HOME-assisted units.
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Tenant-Based Rental Assistance (TBRA)
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A form of direct rental assistance in which the recipient tenant may move from a dwelling unit with
a right to continued assistance. Includes security and utility deposits associated with the rental of
dwelling units.
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Total Development Cost (TDC)
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The sum of all costs for site acquisition, relocation, demolition, construction and equipment, interest,
and carrying charges.
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Very Low-Income Family
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Family whose "annual income" does not exceed 50 percent of the median income for the area
(adjusted for family size). HUD may establish income ceilings higher or lower than 50 percent of median
income for an area on an exception basis.
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