In order to increase the supply of affordable single-family homes and encourage strong partnerships between local governments and non-profits, the U.S. Department of Housing and Urban Development (HUD) created the Community Development Housing Organization (CHDO) Program. Under this program, a minimum of 15% of all HOME funds must be set-aside for Community Housing Development Organizations (CHDO’s). According to HUD, a CHDO is a private nonprofit, community-based service organization that has obtained or intends to obtain staff with the capacity to develop affordable housing for the community it serves.
Under the guidelines of the CHDO Program, the City of Titusville offers loans to non-profit organizations to provide:
- Emergency housing
- Permanent owner-occupied
- Rental housing for families at or below 80% of the Area Median Income (AMI) adjusted for family size
- Transitional housing
The housing funds may be used by the CHDO to acquire vacant land and construct new housing, acquire and demolish a blighted structure and create new housing, or acquire and renovate existing housing. The CHDO will be expected to acquire, develop, and sell the property and to identify and assist qualified buyers.
Through these monies, a strong mutually beneficial partnership emerges. Non-profits are able to build affordable housing, program participants gain affordable housing, and the City of Titusville is able to nourish non-profit agencies to provide future affordable housing throughout the City.