“Grant Opportunities Overview”

September 13, 2005

HCDA Programs

Homeownership Department Rental Housing Department Community Development Department

Homeownership Department

First Home / First Home PlusCurrent Rate is 5.15% - 30 Year Fixed Rate

Mortgage Credit Certificate My Community Products

Community Mortgage 100% OptionCommunity SolutionsCommunity Home Choice

Rental Housing DepartmentRental Housing Department

Rental Housing Tax Credits Multifamily Bond Program Mark-to-Market Section 8 Contract Administrator

Community Development Community Development DepartmentDepartment

Housing from Shelters to Homeownership Foundations CHDO Works Housing Opportunities for Persons With AIDS Individual Development Accounts Neighborhood Assistance Program HOME Owner-Occupied Rehabilitation Homeownership Education & Counseling Improving Neighborhoods Through Revitalization

Housing from Shelters to Homeownership

Three Funding Sources HOME Investment Partnerships Program

(HOME)

Low Income Housing Trust Fund (LIHTF)

Community Development Block Grants (CDBG)

What’s the Difference? Which Funds Should You Use?

There are distinct differences in the 3 funding sources:HOME and CDBG are grantsLIHTF is a loanTerm of AwardMatch Requirements

Eligible Applicants HOME

Must be a not-for-profit, CHDO, public housing authority, local unit of government, townships, or joint venture

CDBG Must be a local unit of government

LIHTF Must be a not-for-profit, public housing authority, joint

venture, or a for-profit organized under the State of Indiana

Restrictions on Development Location

Entitlement Communities – Receive CDBG funds directly from HUD

Participating Jurisdictions – Receive HOME funds directly from HUD

Larger cities HCDA does not fund activities in these areas

except for transitional housing or permanent supportive housing using HOME funds or any eligible activity using Trust Fund.

Eligible Activities - HOME

Transitional Housing Rehabilitation / New Construction

Rental Rehabilitation / New Construction Permanent Supportive Rehabilitation /

New Construction Homebuyer Rehabilitation / New

Construction

Funding Limitations - HOME

Awards are made in the form of a grant with a 24-month term

Maximum award amount is $750,000

Eligible Activities - CDBG

Emergency Shelters Youth Shelters Transitional Housing Rehabilitation Migrant / Seasonal Farm Worker Housing Transitional Housing Rehabilitation Permanent Supportive Housing Rehabilitation Rental Rehabilitation Owner Occupied Rehabilitation Voluntary Acquisition / Demolition

Funding Limitations - CDBG

Awards are made as a grant with an 18-month term

Maximum award amount is $500,000 (Except OOR)

Maximum award amount for owner-occupied rehabilitation is $300,000

Eligible Activities - LIHTF

All previously mentioned activities Applicant proposes interest rate Applicant must provide security or collateral Construction financing for up to 3 years and/or

short-term permanent financing up to 15 years with a maximum of 30-year amortization schedule

Funding Limitations - LIHTF

$1,000,000 outstanding balance per applicant

Foundations

Funding Source: HOME, CDBG, & LIHTF Eligible Applicant: According to funding source

(only CHDOs eligible for HOME Foundations) Eligible Activities:

HOME – CHDO Predevelopment Loans & CHDO Seed Money Loans

CDBG – Housing Needs Assessments, Feasibility Studies, & Continuum of Care Strategic Plan

LIHTF – Predevelopment Loans & Seed Money Loans

CHDO Works

Funding Source: HOME Eligible Applicant: Community Housing

Development Organizations (CHDOs) Funding Limitations: Up to $70,000 in

operating assistance for 2 years

Important Dates

Housing from Shelters to HomeownershipApplication Workshop: Wednesday,

September 14th in Rooms 202-203 from 2:45 – 5:00 PM

Intent to Submit Form Deadline: September 21, 2005

Application Postmark Date: October 31, 2005Award Announcements: January 26, 2006

Important Dates Continued….

CHDO Works and Foundations Application Postmark Date:

October 7, 2005 Award Announcements:

December 15, 2005

For More Information

Visit HCDA at www.indianahousing.org Join HCDA-INFO: E-mail Newsletter Call us toll-free at 1-800-872-0371