The Bellingham Housing Development Fund assists, through public/private partnerships, for-profit and nonprofit firms or agencies in creating affordable low- or moderate- income housing units. Sources of funding for the Housing Development Program are the federal Community Development Block Grant Program and the HOME Investments Partnerships Program.
Bellingham Housing Development Fund activities include land and building acquisition, renovation of existing buildings, infrastructure improvements in support of housing, and provision of pre- development expenses. Supportive Program services are available for projects, such as providing low-interest loans at rates and terms appropriate for the type of benefits to be provided to low- or moderate-income households.
Program activities are not intended to replace private financing, but to leverage funding or provide gap financing that may be necessary to allow a project to be developed. Other Bellingham Housing Development Fund services include providing agencies with technical assistance in project development, financial feasibility analysis, and project management. For more details, see the Housing Development Fund Guidelines.
For more information about the Bellingham Housing Development Fund, contact the Community Development Division.
HOME Assistance Programs refers to programs or activities that utilize federal HOME Investment Partnership Program (HOME) funds received by the City to provide housing assistance to low- or moderate-income households, or to fund specially qualified nonprofit housing organizations engaged in low-income housing. These specially funded nonprofit organizations are referred to as Community Housing Development Organizations (CHDO) and 15% of the City's annual federal HOME grant are set aside for use by these qualified organizations. Current activities funded under the HOME Assistance Program include Tenant Based Rental Assistance Program (TBRA), Homebuyer Assistance Program and CHDO Project and Operations funding.
Community Housing Development Organizations (CHDOs) are specially qualified nonprofit organizations that are engaged in the delivery of housing assistance to low- and moderate-income households. Fifteen percent (15%) of the City's annual federal HOME grant are set aside for use by these qualified organizations. The funding may be used in the acquisition, development or rehabilitation of housing owned and operated by CHDO's. In addition, CHDO's may also qualify for funding to assist in the operation of CHDO owned housing. The Opportunity Council and Kulshan Community Land Trust are qualified CHDOs.
