HUD HOME Program Policy and Transactional Support and Technical Assistance

The Home Investment Partnerships program (“HOME”), typically funded at approximately $2 billion annually, is the largest block grant program dedicated to creating affordable housing for low-income families. Compass works as a subcontractor to ICF International, under its Community Development Technical Assistance contracts, to assess the merits of additional investments in troubled, HOME-funded properties. Each of these assessments require a site visit, discussion with the participating jurisdiction (“PJ”, typically a local governmental entity responsible for allocating funds and monitoring compliance), underwriting, and workout recommendations. As such, these are troubled property workouts for government agencies. Because most HOME workouts require regulatory waivers, this assignment incorporates policy consulting to the client; and consequently the transactional work led to a substantial revision of the HOME regulations. Compass has written one of the HOME program’s Model Series Guidebooks: Asset Management, Strategies for the Successful Operation of Affordable Rental Housing. Compass also provides training and technical assistance on HOME and CDBG program requirements to PJs.

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