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State Housing Authority Announces HOME Awards - 8/5/2003

[Columbia, SC] Over $3 million in federal grants and loans has been awarded by the South Carolina State Housing Finance and Development Authority under the HOME Investment Partnership Program (HOME) in its May 2003 cycle. Thirteen local governments, for-profits, nonprofits and Community Housing Development Organizations in South Carolina will receive HOME grants ranging from $46,000 to $500,000. (List of HOME awards attached)

Housing activities authorized by the HOME program include Rental Housing, Homeownership, Lease Purchase, and Tenant Based Rental Assistance (TBRA). In this cycle approximately $2.3 million was allotted for new construction, and/or acquisition or rehabilitation of affordable housing in Rental Housing, $410,589 was allotted in Homeownership, and the eligible activity of Tenant Based Rental Assistance received $350,000. The final cycle will end August 29th. Awards will be announced approximately 90 days thereafter.

The HOME Investment Partnership (HOME) was created under the Cranston-Gonzalez National Affordable Housing act of 1990. HOME is a flexible block grant program designed to promote partnerships among the federal government (HUD); state and local governments, and the nonprofit and for-profit sectors who build, own, manage, finance, and support a variety of low income housing initiatives.

HOME funds are competitively awarded. The applications area reviews, scored and ranked against published criteria. HOME funds must benefit persons at 80 percent of the county median income. Units of local government, CHDOs, as well as other non-profit and for-profit organizations are eligible to apply for HOME funds.

The South Carolina State Housing Authority has administered the HOME program for the state, with the first year of unit production beginning in 1992. Since its inception, the HOME program has financed over 6,000 affordable housing units (single-family, rental, and special needs housing0 across the state.

The South Carolina State Housing Authority is a self-supporting agency of state government and operates at no cost to the taxpayers of the state of South Carolina.