Nys home

Ny's house

Through the NYS HOME Program (HOME) The New York State HOME Program is managed by the New York State Housing Trust Fund Corporation (HTFC). This programme uses federal funds from the HOME Investment Partnership Program to expand the provision of decent, safe and affordable housing within the state. HOME Program (HOME) New York State HOME is managed by the New York State housing Trust Fund Corporation (HTFC). This programme uses the HOME Investment Partnership Programme's German government funding to extend the range of humane, secure and accessible accommodation available within the state. HOME finances a wide range of projects through partnership with districts, municipalities, villages, rural development agencies and non-profit residential development companies.

This programme provides resources to purchase, renovate or build homes or to support low-income homeowners and tenants. Resources must be allocated according to the needs and priority defined in the government's consolidated plan. National HOME Programme Rules (24 CFR Part 92) define the prerequisites for allocating formulas, eligibility for funding, match fund, affordability of living space, and adherence to other government standards.

These rules also impose specific demands on municipal building societies (CHDOs). The projects will be selected taking into account the advice of the competent REC C or the Commissioner's finding that the proposal is in line with the regions' specific SSRs. Every nonprofit, non-profit or charitable organization that can prove its ability to design and run a qualified program is entitled to request HOME grant work.

General Municipal Administration entities not referred to by HUD as participant jurisdiction and non-profit organizations that pass certain administration testing may also qualify as community programmeadmins. Districts that directly obtain HOME programme grants from the German state cannot request HOME programme grants from the State of New York.

Eligibility is open to all sectors of government, provided that the restrictions on support described below are met. The HOME programme may only be used to support those budgets whose revenues reach or fall below 80% of the average area-based earnings. Subsidised rentals must stay payable for a five to 20 year term, based on the amount of the grant initially awarded to the projects.

The HOME programme can be used to finance the purchase, refurbishment, building and certain related operating overhead. The money may also be used for removal expenses, tenant-related rent subsidies, down payments and closure expenses as well as some administration and design expenses, provided that the restrictions laid down in the Swiss government rules are not exceeded. The money may only be used for housebuilding.

Use of HOME funding for real estate is restricted and supported by certain other government programmes. 15 per cent of each HOME programme grant is reserved for qualifying municipal building societies (CHDO) in accordance with Swiss legislation. At least 80 per cent of the remainder is reserved for non-municipal ventures that HUD has described as participatory jurisdiction.

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