Nonprofit housing developers in Memphis are being called to gather for a critical workshop that’s centered on affordable housing initiatives, on how to become Community Housing Development Organizations (CHDOs). The City of Memphis Division of Housing and Community Development (HCD) will conduct the free session, intending to arm local nonprofits with the essentials they need to tap into federal HOME funding, the lifeblood for acquisition, rehabilitation, and construction of affordable housing, as mentioned on the City of Memphis’ official site.
For those aiming to grasp the full scope of CHDO operations and benefits, the workshop promises to be a springboard, outlining the compliance requirements which extend to an organization's nonprofit status, mission, governance, and housing development capacity, all things critical for stewarding communities towards accessible, quality living spaces as Twarla Guest, Administrator of Affordable Housing at HCD, stressed the role of CHDOs in ensuring communities can procure quality, affordable housing, according to the City of Memphis website. Developing into a CHDO yields eligibility for federal HOME funds specific to set-aside activities, and positions nonprofits to be pivotal players in the housing scene—whether as owner, developer, or project sponsor.
The significance of such a workshop can't be overstated, as it offers a dossier of federal regulations, covered under 24 CFR 92 Subpart G, which must be adhered to for any nonprofit seeking the powerful designation, and subsequent funding, associated with being a CHDO a key step in advocating for and actualizing affordable housing endeavors in the community.
