The HOME Investment Partnerships Program (HOME) administered by DHCD's Community Planning and Development Division is intended to assist Prince George's County in expanding the supply of decent, affordable housing for our low and very low-income families.
Prince George's County through a formula-driven measure that considers the relative inadequacy of each jurisdiction's housing supply, its incidence of poverty, its fiscal distress and other factors is eligible to receive approximately $3.5 million annually from a Federal Housing and Urban Development (HUD) appropriation.
Through the HOME Investment Partnerships Program, the Department of Housing and Community Development encourages nonprofit and for-profit developers to produce and rehabilitate housing, assist first-time homebuyers to purchase homes, acquire or improve group homes for special populations and assist Community Housing Development Organizations (CHDO's) to create and support housing opportunities for households of limited income.
Financial assistance is provided to eligible projects and beneficiaries in the form of interest bearing loans. The amount of financial assistance is determined on a project-by-project basis, throughout the fiscal year, and provided according to the HOME Subsidy Limits.
To ensure that HOME investments yield affordable housing over the long term, the County requires that the minimum or greater affordability period for each type of eligible activity be incorporated into each project. Also, the County requires each HOME-funded project be in compliance with Federal lead-based paint regulations of the Housing and Community Development Act of 1992.
For more information about the HOME Investment Partnerships Program (HOME) please call 301-883-5570.