Overview to Using HOME and HTF Funds within OZs
While the HOME, HTF, and OZ programs have their own purposes and requirements, there is enough overlap that projects can be financed successfully and in compliance with the rules of OZ and HOME or HTF.
OZ investors are a potential new source of capital to the community. This capital can stimulate economic, housing, and infrastructure development. Affordable housing is an eligible investment activity, provided the housing is in an OZ and can serve to spur additional investment. Grantees and affordable housing developers should explore the potential of this relatively new capital source and take advantage of these funds where possible.
Before making overtures to potential investors, grantees should identify advantages, relative to other development projects, to working in the OZs to create affordable housing opportunities.