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Background/What is a CHDO?
A Community Housing Development Organization (CHDO) is an entity that has met specific requirements per the regulations that govern the HOME Investment Partnerships Program (HOME).
Under the HOME Final Rule (24 CFR Part 92), IHCDA must reserve no less than 15% of its HOME allocations for investment in housing to be owned, developed, or sponsored by CHDOs.
Unless otherwise announced, IHCDA will accept applications for CHDO funds only from IHCDA-certified CHDOs for activities that are located outside of participating jurisdictions (i.e., communities that receive HOME funding directly from HUD). The only exception to this would be any activity that is specifically referenced for use of HOME funds within the most current Indiana Consolidated Plan.
Any not-for-profit organization receiving IHCDA HOME-CHDO funding must be certified by IHCDA. For additional information on CHDO, please review the following:
PY 2013 IHCDA CHDO Listing - Updated March 3, 2014
How to Become a CHDO
Additional HUD Guidance
How to apply?
Application forms to be completed to apply for CHDO status, are located within the link below.
Click here to access the forms.
Benefits of Being a CHDO
Any not for profit organization that has 501©3 status from the IRS is eligible to apply for HOME funds for a variety of housing activities. CHDOs, through the Strategic Investment Process, have the benefit of also applying for:
1. CHDO Operating Grants
2. Site-specific Predevelopment and/or Seed Money Loans for subsequent HOME-CHDO projects
3. IHCDA-approved CHDOs seeking funding must apply through IHCDA's HOME Application Round
NOTE– only homebuyer or rental housing where the CHDO acts as the owner, developer, or sponsor) qualify as HOME-CHDO projects. These projects can be new construction or rehabilitation.
Maintaining CHDO Status
IHCDA-certified CHDOs will need to verify compliance with the regulations to maintain CHDO status on an annual basis. This process typically occurs during the first quarter of each year. IHCDA staff will provide all IHCDA CHDOs with documentation to complete for review.
Please contact the Real Estate Analyst in your area