The HOME Investment Partnerships Program (HOME) is the largest Federal block grant available to state and local governments designed exclusively to create affordable housing for low-income households. HOME provides Formula Grants to state and local governments. The County of Lexington receives funding from the U.S. Department of Housing and Urban Development (HUD).
The HOME Program provides funds for projects that primarily assist low- and moderate-income persons in securing:
- Acquisition of property
- Down payment and closing cost assistance
- Property for affordable housing
- Major rehabilitation of owner-occupied homes
- Site improvements for HOME assisted projects
The Community Development Department will administer several HOME Program activities. Those activities include:
Homeownership Assistance Program: This program will assist eligible low- and moderate-income (LMI) *first-time homebuyers with down payment and/or closing cost assistance. Assistance will be provided on a first-come, first-served basis in amounts not to exceed $5,000 per applicant.
* According to the IRS, a first-time homebuyer is any individual (or spouse, if married) who had no present ownership interest in a qualifying principal residence during the three-year period ending on the date of purchase of the principal residence.
Comprehensive Housing Rehabilitation Program: This program will assist eligible low- and moderate-income homeowners with significant repairs typically not to exceed $25,000. Major rehabilitation includes repairs, alterations, improvements, or modifications of existing housing structures. Funding will also be used for inspection/estimate services, lead-based paint testing and clearance, and relocation cost.
Partnerships with Community Housing Development Organizations (CHDO): To strengthen the capacity of the County’s non-profit sector, the County’s HOME Program will provide funding to HOME-assisted housing activities that are owned, developed, or sponsored by entities designated as Community Housing Development Organizations (CHDO). The County will require each CHDO to participate in a certification process that will verify the organizations legal status, organizational structure, capacity, and experience to qualify as a participant in the HOME Program.