HOME Investment Partnerships Program (HOME)
The federal Home Investment Partnerships Program is authorized under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended. HOME is the largest Federal block grant designed exclusively to create affordable housing for low-income households earning 80 percent or below the Area Median Income (AMI).
The HOME Investment Partnerships Program (HOME) provides funding to eligible property owners, for-profit and non-profit agencies, and Community Housing Development Organizations (CHDO) for new construction on rehabilitation of quality affordable housing in Bridgeport.
Jayson-Newfield Project, 179-201 Middle Street and 1184-1186 Main Street
The City of Bridgeport has created over 600 units of affordable housing as a result of this funding. Primary activities carried out by the City include:
- Down Payment and Closing Cost Assistance for Qualified First-Time Homebuyers
The City of Bridgeport aids low-and moderate-income home buyers in the form of down payment and closing costs to purchase one- to four-family homes.
The City's First-Time Homebuyer Down Payment and Closing Cost Assistance program (DPA) is administered by the Department of Housing and Community Development in partnership with non-profit community partners and /or participating lenders who have been certified by the U.S. Department of Housing and Urban Development (HUD) as housing counseling providers.
- Construction of Homes for Homeownership Opportunities
The City of Bridgeport provides low-interest loans to private individuals, not-for-profit and for-profit entities who construct homeownership units which will be occupied by persons within HUD stated income parameters.
- Construction of New Rental Housing Development
The City of Bridgeport provides low-interest loans to not-for-profit and for-profit entities who construct new rental units to be occupied by persons within HUD stated income parameters.
To apply for funds to rehabilitate or construct rental or homeownership units please contact:
Obiora Nkwo, Program Manager