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Creating A Project Through Partnerships

Affordable housing development involves blending ideas and funding sources, and is inherently a lengthy process.  Funding sources have unique requirements and regulations, so it is important to begin discussions at an early point.

It is essential to be aware of the role AHDI plays.  AHDI is a Community Housing Development Organization (CHDO) as defined through the HUD HOME Program.  This Federal program defines the roles AHDI must assume in the development of any project with an emphasis on active participation.

AHDI must be either a developer, owner or sponsor:

DEVELOPER:        AHDI must be actively involved with the owner throughout the project.

OWNER:                  AHDI works with other partners but retains ownership.

SPONSOR:             AHDI initially owns the project and turns it over to another non-profit entity at completion.

AHDI can provide HOME funds for a project.  It can also help access other funding sources.  The process begins with AHDI's Potential Partner Application.  This application helps AHDI's staff determine project viability and potential funding needed.  Applications may be submitted at any time and will generally be refined through discussions with AHDI staff before submission to the AHDI board.

If the Board approves the partner application, AHDI will enter into a Memorandum of Understanding or a Partnership Agreement with the partners outlining the roles and duties of each and a breakdown of funding and developer's fees.  AHDI staff works with theses partners to finalize the development budget and complete any necessary funding applications.

If you are interested in partnering with AHDI on a project please Contact Us.