Home Investment Partnership Program: $6,383,682*
The HOME Investment Partnership (HOME) Program provides federal funds for the development and rehabilitation of affordable rental and ownership housing for low and moderate income households. Broward County’s Median Income is $61,700 effective December 2012. HUD has found the areas where 51 percent of the population has income below 80 percent of the Median Family Income for the Fort Lauderdale Metropolitan Statistical Area (click here to see both charts). Broward County receives its HOME Program allocation as a part of the Broward County HOME Consortium. The HOME Program operates under a consortium which includes eleven entitlement jurisdictions of Broward County: Coconut Creek, Coral Springs, Davie, Deerfield Beach, Lauderhill, Margate, Miramar, Pembroke Pines, Plantation, Sunrise and Tamarac. The cities of Fort Lauderdale, Pompano Beach and Hollywood administer their own allocation of HOME funds.
The HOME Program has provided funding for acquisition and rehabilitation of rental housing, homeowner repairs, purchase assistance and tenant-based rental assistance. The Tenant Based Rental Assistance Program, which provides emergency first and last month rental payments and security deposits for homeless families and individuals and those at risk of becoming homeless is part of the HOME funds allocation and administered by the Broward County Housing Authority. Federal requirements dictate 15 percent of the total HOME fund allocation be used for Community Housing Development Organizations (CHDOs) Set-Aside, and 10 percent of its annual HOME allocation for Program Planning and Administration which costs are associated with managing the HOME Investment Partnerships Program.
*Note: HOME Participating Jurisdictions have two years to commit funds (including reserving funds for CHDOs) and four years to spend funds.
Residential Rehabilitation Single-Family: $1,955,780
Purchase Assistance: $1,334,349
CHDO Set-Aside: $957,552
Multi-Family New Construction: $950,000
Program Planning & Administration: $638,368
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