RESOLUTION R-21-126
2. Community Housing Development Organization (CHDO) Reserve - $67,053.45
Mandatory set aside, equal to 15% of the annual grant, for specific activities to be undertaken
by a private nonprofit, community-based organization that has staff with the capacity to
develop affordable housing for the community it serves. In order to qualify for designation as
a CHDO, the organization must meet certain requirements pertaining to their legal status,
organizational structure, capacity and experience as it relates to the project they are
developing.
3. Homebuyer Assistance Program - $55,000
Direct financial assistance toward down payment and closing costs for eligible low-income
homebuyers purchasing a home in Nashua, including counseling, underwriting and other
direct costs.
4. Affordable Housing Development - $280.267.25
Acquisition, rehabilitation and /or conversion of residential and/or non-residential buildings
to create affordable rental and/or home-owner housing, occupied by HOME-eligible
households. Projects may be developed by non-profit, for-profit, public or private entities.
