WHAT IS A
CHDO?
- CHDOs
are ordinary nonprofit corporations that happen
to have a certain board structure and an affordable housing
purpose (as specifed and described in the federal
regulations).
ADVANTAGE
OF BEING A CHDO
- Local
governments must set aside 15% of their federal HOME dollars for
projects sponsored by CHDOs
- Local
governments have greater flexibility in spending their federal
community housing dollars (primarily HOME) when they do
business with a CHDO. For example, local governments can allow CHDO's
to use HOME funds to pay
for administrative expenses)
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Convert
your
Nonprofit to a "CHDO"
CLICK HERE for
information on the specific amendments that you will need to make to
your Articles of
Incorporation and Bylaws
- Included
are sample wordprocessing documents
that you can download to make the amendment process easy! Filing instructions are
included
CLICK
HERE for HUD's CHDO resource Page
CLICK
HERE for HUD's HOME program page
CLICK HERE
for a background article on HOME and CHDO
CLICK HERE to see the
regulations governing CHDOS
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