The HOME Investment Partnerships Program (HOME) provides formula grants to fund a wide range of activities that build, buy and/or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people. Development and housing require a land covenant, deed of trust and note to protect the investment. HOME requires a match of funds (except for administrative costs) with 25 cents from non-federal sources including donated materials or labor, the value of donated property, proceeds from bond financing, and other resources.
- HUD Income Limits (click here)
- Knox County ensures that HOME-funded housing units remain affordable in the long term as follows:
- 20 years for new construction of rental housing; or
- 5-15 years for construction of homeownership housing and housing rehabilitation,
depending on the amount of HOME subsidy.
- Knox County has provided HOME funds for numerous development projects including:
- Riverbirch Apartments – 40 units of affordable senior 1 and 2–bedroom apartments;
- Willow Place Apartments –20 units of affordable senior 1 and 2-bedroom apartments;
- HomePlace Apartments – 36 units of affordable mixed use 2 and 3-bedroom apartments
currently under construction; - October Woods – a Knoxville Habitat for Humanity single-family housing subdivision; and
- Easton Meadows – a Knoxville Habitat for Humanity single-family housing subdivision.
For more detailed information contact the office of Knox County Community Development.
