The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.
Uses and Use Restrictions
Single family homes with appraised values of $25,000 or less that are acquired through foreclosure of Federal Housing Administration (FHA) insured loans will be available for purchase by local governments at a price of $1 plus closing costs, after the properties have been actively marketed for at least 6 months and remain unsold.
The property must be located with the jurisdiction of the purchasing local government with the intent of using the property for a 'clear public purpose'.
Housing Notice 2013-19, dated April 3, 2013, announced the extension of the Dollar Home Sales to Local Governments Program as described in Notice H 2011-16, which can be found at http://portal.hud.gov/hudportal/documents/huddoc?id=11-16hsgn.pdf Available properties are listed at HUD?s website located at http://www.hudhomestore.com/Home/Index.aspx where eligible governmental entities can search listings by location and buyer type.
Local government legally authorized by local law to make the purchase.
Low- to moderate-income families and communities.
Evidence of authority to purchase. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.
Aplication and Award Process
Preapplication coordination is not applicable.
Environmental impact information is not required for this program.
This program is excluded from coverage under E.O.
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Submit HUD-9548, Sales Agreement, stating a purchase price of one dollar ($1.00) plus closing costs, together with the Addendum to Sales Contract in the form attached to Housing Notice 06-02, as further detailed in Housing Notice 00-07, to HUD by close of the 10-day listing period for a property.
Evaluation of the documentation required by the application procedure evidenced by HUD's execution of the Sales Agreement and approval of the purchaser's plan for use of the property.
Housing Notice 00-07, dated April 28, 2000 (and subsequent extensions).
Range of Approval/Disapproval Time
Properties assigned to this program are offered for 10 days.
Formula and Matching Requirements
This program has no statutory formula. Matching requirements are not applicable to this program. MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
Not Applicable. Method of awarding/releasing assistance: quarterly.
Post Assistance Requirements
All annual reports submitted by local governments will be maintained by HOC Program Support Staff Director.
(Sale, Exchange, or Donation of Property and Goods) FY 15 Not Separately Identifiable(Exp: Reported Under 14.311); FY 16 Not Separately Identifiable(Exp: Reported Under 14.311); and FY 17 Not Separately Identifiable(Exp: Reported Under 14.311) - Reported Under 14.311.
Range and Average of Financial Assistance
No Data Available.
Regulations, Guidelines, and Literature
Regional or Local Office
See Regional Agency Offices. Contact the appropriate HUD Homeownership Center listed in Appendix IV of the Catalog.
Wanda L. Sampedro, 451 7th Street, SW, Washington, District of Columbia 20410 Email: firstname.lastname@example.org Phone: (800) 225-5342.
Criteria for Selecting Proposals
The Bank of America Merrill Lynch themselves, Social Finance Inc., New York State, the Center for Employment Opportunities (CEO), the U.S. Department of Labor, Chesapeake Research Associates, and The Rockefeller Foundation come together to address recidivism by training and employing ex-inmates.