Homeownership Options under the HOME Program: A Model for Publicly Held Properties and Land Trusts

Copies of Model Programs are available through Community Connections (http://www.comcon.org/).

HUD-1781-CPD, June 1999. Supersedes HUD-1414-CPD, August 1993

The purpose of this guide is to highlight opportunities to use HOME funds for the reuse of publicly held properties as low-income housing, and to introduce land trusts as a means for achieving affordable housing with HOME funds.

The guide consists of three chapters.

Chapter 1 identifies program requirements and design issues related to using HOME funds for publicly held properties.

Chapter 2 presents two potential options for the use of publicly held multifamily properties: cooperatives and condominium ownership projects.

Chapter 3 discusses the use of land trusts in connection with HOME funds to create affordable housing.