The HOME program provides funding to eligible property owners, for-profit and non-profit agencies and Community Housing Development Organizations (CHDO) for the new construction or rehabilitation of quality affordable housing in Hartford. The program supports the City of Hartford’s goal to foster the continued development of homeownership opportunities, and the rehabilitation and construction of multi-family rental properties. Funding through HOME must benefit low-income and very low-income households. Since the HOME program’s inception in 1992, over 1,600 housing units have been completed.
The City of Hartford accepts proposals for financing the acquisition and/or rehabilitation of residential properties for the purpose of creating affordable housing units. Preference will be given to proposals that include a homeownership component, eliminate blight, reduce existing density through demolition-reconfiguration, and provide adequate parking and open space.
Generally, the City of Hartford will not finance 100% of a project’s costs with HOME program funding. Applicants should demonstrate their ability to leverage other sources of financing. The present program leveraging ratio averages approximately $4.00 of private funding for every $1.00 of HOME program funding.