FY 2012 and FY 2013 HOME Appropriations Law Requirements

The Consolidated and Further Continuing Appropriations Act of 2012 and the Consolidated and Further Continuing Appropriations Act of 2013 imposed new requirements on 2012 and 2013 HOME Investment Partnerships Program (HOME) projects. The purpose of these requirements is to improve project and developer selection by Participating Jurisdictions (PJs) and to ensure that there is adequate market demand for 2012 and 2013 HOME projects.

The FY 2012 and FY 2013 Appropriation Laws imposed four key requirements:

All 2012 and 2013 HOME projects must be completed within four years of the date the written agreement is executed. In cases where a project is not completed by this deadline, the project will be considered “involuntarily terminated before completion” and the HOME funds invested in that project will need to be repaid.
Before entering into a legally binding written agreement to provide HOME funds for a 2012 or 2013 HOME project, a PJ must have underwritten the project or evaluated the underwriting of another funder, assessed the development capacity and fiscal soundness of the developer, and examined neighborhood market conditions to ensure that there is adequate need for each project.
PJs must convert any 2012 or 2013 HOME homebuyer unit that has not been sold to an eligible homebuyer within six months of construction completion to a HOME-assisted rental unit, or repay the HOME investment.

PJs may not have reserved FY 2012 or FY 2013 HOME funds to a CHDO unless the PJ had determined that the CHDO had paid staff with demonstrated development experience. The PJ must have ensured that the current CHDO staff had experience developing projects of a similar size, scope and level of complexity as the activities for which HOME funds were being reserved or committed.

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Webinars and Courses

Webinars and Courses

Recent IDIS Changes Affecting HOME PJs Webinar

The webinar discusses open activity flags, an edit to the completion date for HOME activities, a revised commitment certification, a new CHDO certification, changes to HOME program income in IDIS, and the new PR 49 Deadline Compliance Status Report.

Date Published: June 2012

HOME FY 2012 Appropriations Law Requirements - For PJs - Assessing CHDO Development Capacity Webinar

This webinar provides an overview for PJs of the FY 2012 Appropriations law requirement related to assessing and documenting CHDO development capacity. The webinar describes the requirement and its applicability to CHDO activities. It also describes the certification process and HUD's expectations for documentation. Finally, the webinar provides practical tips for PJs as they develop their CHDO assessment procedures, including how to assess track records, what constitutes CHDO staff, and the CHDO role. This webinar is intended for all HOME PJ staff.

Date Published: July 2012

Reports

Reports

Post 2011 HOME Homebuyer Activities Reports

PJs can use this report to view homebuyer activities (1) that were set up in IDIS on or after August 23, 2013, in final draw status, or have more than 90 percent of the HOME funds drawn yet no draws have been processed in the past six months; or (2) that have activities with a 2012 or 2013 program year in IDIS that are in final draw status, or have more than 90 percent of the HOME funds drawn yet no draws have been processed in the past six months.

Post 2011 HOME Activities Reports

PJs can use this report to view and track activities subject to the 4-year project completion deadline in IDIS, including: activities that are open, activities in final draw, or completed activities.