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HOME Consortia Builder – Updated Resource Posted

An updated version of the HOME Consortia Builder - A Tool to Estimate Funding is now available on the HUD Exchange. The tool uses U.S. Census and HOME data to calculate an estimate of the amount of HOME funds that a potential consortium might qualify for under the HOME formula.

The formula estimate produced by the builder is based on the selected members of the consortium, the geography of the proposed consortium, and the formula factors required by the HOME Program formula calculation. The output from the builder is an Excel file with the estimated award amount that includes the administrative funds available (10 percent of the allocation).

Formula factors include:

  • Incidence of poverty
  • Supply of substandard rental housing
  • Relative inadequacy of housing supply
  • Cost of producing housing
  • Number of low-income families in rental housing units likely to need rehabilitation
  • Fiscal incapacity to carry out housing activities without federal assistance

The actual amount awarded to a consortium will be determined by the amount of funding that Congress appropriates to the HOME Program and is enacted into law, the number of set-asides in the appropriation for other purposes, the qualification of new Community Development Block Grant (CDBG) Entitlement communities and urban counties, and the formation of other eligible and participating consortia. Considering that the tool only provides an estimate, jurisdictions should allow for a margin of error when determining the member governments needed to participate.

View the HOME Consortia Builder
         
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This material is based upon work supported by funding under an award with the U.S. Department of Housing and Urban Development. The substance and findings of the work are dedicated to the public. Neither the United States Government, nor any of its employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately-owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the U.S. Government or any agency thereof. Opinions expressed on the HUD Exchange are those of the authors and do not necessarily reflect the official position of, or a position that is endorsed by, HUD or by any HUD program.