Sign Up For Novogradac Industry Alert Emails

HUD Publishes Interim Rule on Regulations For HOME Program

Tuesday, March 30, 2004 - 1:45AM

The U.S. Department of Housing and Urban Development (HUD) today published an interim rule that establishes regulations for a new downpayment assistance component under the HOME Investment Partnerships Program, the American Dream Downpayment Initiative (ADDI). Through the new initiative, HUD will make formula grants to participating jurisdictions to assist low-income families achieve homeownership. This interim rule – effective April 29, 2004 - codifies the statutory formula for allocation of ADDI funds, identifies eligible activities and costs under the initiative and establishes other applicable requirements. HUD will accept comments on the rule until June 1, 2004. 

Learn more about Novogradac's expertise and many services