The HOME Investment Partnerships Program (HOME) is an entitlement funding created primarily to support the development of affordable housing. HOME provides general guidelines to local governments to design affordable housing strategies that address local needs and housing conditions. The funds may be used for such activities as tenant based rental assistance, homebuyer’s assistance, property acquisition, new construction, rehabilitation, site improvements, demolition, relocation, and administrative costs.
All HOME-based housing and rental assistance must be targeted to low-income households. Jurisdictions, such as Montgomery County, must reserve 15% of their HOME funds for housing to be developed, sponsored, or owned by Community Housing Development Organizations (CHDOs). A CHDO is a private, community-based non-profit organization that has among its purposes the provision of decent and affordable housing for low-income persons. The county grants CHDO status.