Press Releases
State Housing Announces Availability of Funds - 8/12/1998
[Columbia, SC] The South Carolina State Housing Finance and Development Authority announced the availability of $2,486,000 in funding for the third Home Investment Partnerships Program (HOME) application cycle. Applications for the cycle, which begins September 15, 1998 and ends October 15, 1998, will be due on or before 4:30 p.m. on the application deadline. HOME Program applications have been revised and applicants must request a revised copy for submission. There will be a nonrefundable $25 application fee for each application submitted to the Authority.
Proposals will be accepted for Owner Occupied Replacement, Rental Housing, and Homeownership. Owner Occupied Replacement funds are to be used for the reconstruction of affordable housing and the funds must benefit households or persons at 80 percent or less of the area median income. A total of $936,000 is available, and $104,000 has been designated for nine Councils of Government Regions (COGs).
Rental Housing funds must be used for new construction, acquisition or the rehabilitation of affordable rental housing. There is $775,000 available to serve households or persons at 60 percent or less of the area median income. Homeownership applications should be used for new construction or rehabilitation of affordable housing as well as down payment or closing cost assistance serving persons at 80 percent or less of the area median income. There is also $775,000 in funding available for this activity.
The HOME Program was enacted under Title II of the Cranston-Gonzalez National Affordable Housing Act of 1990. HOME is designed to promote partnerships among the Department of Housing and Urban Development (HUD), state and local governments, and nonprofit and for profit developers who build, own, manage, finance and support low-income housing initiatives.
Interested applicants should contact Tammy Gallman at (803) 734-2266 for additional information concerning program guidelines, applications, and threshold requirements. Speech or hearing impaired individuals may call the Authority's TDD line at (803) 734-2369. The Authority's Web address is www.sha.state.sc.us for those interested in downloading the HOME application and Construction Manual or contacting the Authority through the Internet.
The South Carolina State Housing Finance and Development Authority is an independent state agency operating at no cost to the tax payers of South Carolina.
Equal Housing Opportunity