In releasing this Notice of Funding Availability (NOFA), the goal of the Wayne County Community Development Program is to facilitate construction, acquisition, and rehabilitation of affordable housing for very-low and low-income households by in some instances providing gap financing with HOME Investment Partnerships Program (HOME) funding in addition to other forms of affordable housing support such as tenant-based rental assistance as available from the U.S. Department of Housing and Urban Development (HUD). Proposed projects must be leveraged with other funding sources, such as private equity loans from lending institutions and funds from federal, state or local programs, such as Low-Income Housing Tax Credits or previous Neighborhood Stabilization Program (NSP) funds.
Each qualified project will be evaluated for suitability for HOME funding and may be offered funding based on resource availability, preferences and selection criteria.
Qualified housing developers who demonstrate their ability to 1) construct, acquire, and/or rehabilitate affordable housing developments and 2) maintain affordable housing developments are encouraged to submit applications. The proportion of rent restricted units to the total number of units in the project must, at a minimum, equal the proportion of Wayne County’s HOME Program investment in the project’s total development cost. Unrestricted units are not eligible for HOME subsidy.
The Wayne County Community Development Program is making available the following funding sources:
HOME Program Funds
Total Funds Available: Up To $3,370,000.00
The goal of the HOME program is to provide funds to expand the supply of affordable housing for very- low-income and low-income persons as defined under 24 CFR Part 92. This NOFA does not include the text of all applicable regulations that may be important to affordable housing projects and activities. For proper completion of the application, Wayne County encourages potential applicants to consult the federal HOME program regulations, and other federal cross-cutting. Several of the terms used in the HOME program have specific meanings defined by federal HOME regulations. When reviewing this NOFA and the application forms, carefully review the regulations for definitions, terms, and HOME Program requirements. See https://www.hudexchange.info/programs/home/home-final-rule/ for guidance. In all work under this RFP, the Respondent must adhere to all applicable federal, state, and local laws, codes, zoning, and other requirements related to construction, rehabilitation, and housing safety, quality, and habitability.
