What Is a CHDO?
A Community Housing Development Organization (CHDO) is a private, nonprofit, organization that meets a series of qualifications prescribed in the HOME regulations. A minimum of 15% of each HOME allocation must be reserved by a Participating Junction (PJ) for CHDO activities.
A CHDO is defined as a private nonprofit organization that meets the following qualifications:
Is organized under state or local laws
Has no part of its net earnings inuring to benefit of any member, founder, contributor, or individual
Has 501c(3) status
Does not include a public body (no more than one third of board's membership for residents of low-income neighborhoods)
Has standards of financial accountability
Has among its purposes the provision of affordable housing for low- to moderate-income persons as evidenced in its charter, articles of incorporation, resolution, or bylaws
Maintains accountability to low-income community residents of low-income neighborhoods
Has a demonstrated capacity for carrying out activities assisted with HOME funds
Has a history of serving the community within which housing to be assisted with HOME funds to be located