Eligible activities
Grant activities can be divided into four general categories.
Homebuyer activities
Eligible Costs for homebuyer activities include:
- Acquisition
- Rehabilitation
Forms of Assistance typically include:
- Grants
- Deferred-payment loans
- Below-market rate loans
Program Designs vary according to the needs of a community, but some standard designs include:
- Down payment and closing cost assistance
- Gap financing
- Development subsidy
Additional Requirements:
- Subsidy layering
- Eligible property types
- Property standards
- Eligible applicant/ beneficiary
- Affordability period and monitoring
Homeowner rehabilitation
Eligible Costs for homeowner rehabilitation activities include:
- Hard costs
- Project related soft costs
Forms of Assistance typically include:
- Grants
- Deferred-payment loans
- Non-interest bearing loans
- Interest bearing loans
Rental housing activities
Eligible Costs for rental housing activities include:
- New construction
- Rehabilitation or reconstruction
- Conversion
- Site improvements
- Acquisition of property or vacant land
- Demolition
- Relocation costs
- Refinancing
- Capitalization of project reserves
- Project-related soft costs
Tenant-Based Rental Assistance (TBRA)
Eligible Costs for homebuyer activities include:
- Rental assistance programs
- Voucher or certificate model
- Security deposit programs
Additional Requirements:
- Eligible applicant/ beneficiary
- Eligible TBRA units
- Property standards
