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Joining the Adams County HOME Investment Partnerships Program Consortium
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Summary and Background Information:
As an Entitlement Community, local governments may form a “consortium” to directly receive HUD HOME funds for affordable housing. Forming a consortium enables local governments that would not otherwise qualify for direct HOME funding to receive a direct allocation of funds. This results in regional and collaborative approaches to meet area affordable housing needs. Eligible activities include affordable housing development (for ownership and rental), homeowner rehabilitation, homebuyer assistance activities, rental housing rehabilitation, and tenant-based rental assistance. Other non-housing activities are not eligible for HOME funds, such as commercial development and supportive services.
By definition, a HOME Consortium is a collaboration of local government entities-with its own bureaucratic structure, elected leadership, and legal requirements. Adams County’s Community & Economic Development division is the lead entity of the HOME Investment Partnerships Program Consortium and will administer the program. The lead entity assumes full responsibility for compliance with HOME regulations and other applicable Federal requirements. All of the HOME Consortium’s 10% administrative funds will go to the lead entity. The Consortium operates for a three-year IGA period in which its members cannot drop out. The existing members are Adams County, the City of Thornton, and the City of Westminster.
To carry out HOME activities and meet all HOME requirements, the consortium assesses affordable housing needs, develops a plan, makes funding decisions, performs complex housing activities, self-monitors their progress, accounts for expenditures, and reports to HUD.
For each project, the HOME Program requires a 25% matching contribution from non-Federal sources such as private developers, local, and nonprofit sources. The match can be in cash...
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