Affordable Housing

AFFORDABLE HOUSING DEPARTMENT

The Affordable Housing Department (AHD) is a part of the City of Memphis Division of Housing and Community Development that receives HOME funds from the U.S. Department of Housing and Urban Development (HUD). AHD is a department comprised of three offices:

• Affordable Homeownership and Rental Development Office
• Down Payment Assistance Office
• Nonprofit Housing Office

Goals

• Provide quality, decent, and affordable housing for low-to-moderate-middle income families/individuals.
• Revitalize and stabilize targeted areas with infill housing and/or rehabilitated housing.
• Ensure that the housing developers follow the HOME regulations and program guidelines.
• Expand the capacity of the housing developers by providing technical assistance.
• Encourage collaborations/partnerships to leverage funds.
• Offer financial assistance to citizens to assists with meeting the financial requirements of purchasing a home
• Generate Revenue for the City of Memphis, Shelby County, and Memphis Light Gas and Water with all programs.

NONPROFIT HOUSING OFFICE (NPH)

Nonprofit Housing (NPH) Office administers two (2) programs: Community Housing Development Organization (CHDO) Program and Neighborhood Stabilization Program (NSP) to create quality, decent, and affordable homes for low-moderate-middle income families/individuals in the City of Memphis. Both programs are awarded to the City of Memphis through the U.S. Department of Housing and Urban Development (HUD). NPH assists with the eradication of blight by working with Nonprofit Housing Developers to construct homes on vacant lots and rehabilitating vacant homes as well as increase the property tax base for the City of Memphis, Shelby County, and Memphis Light Gas & Water.

• Community Housing Development Organization (CHDO) Program

Nonprofit Housing administers the HOME set-aside dollars to Community Housing Development Organizations (CHDOs) which is pronounced cho’do that is a private nonprofit, community-based service organization whose primary purpose is to provide and develop decent, affordable housing for the community it serves.  Designated CHDOs receive certification from the City of Memphis indicating that they meet certain HOME Program requirements and are eligible for HOME funding.  Funding for designated CHDOs can be used for acquisition, rehabilitation, and/or new construction of rental, lease-purchase, and/or homebuyer properties for low-to-moderate families/individuals.  Funding varies annually.  The set-aside is 15% of the annual HOME entitlement for CHDO projects and 5% of the annual HOME entitlement for CHDO operating costs.  To date, there have been over 470+ homes produced through the CHDO Program.  

Learn more about the CHDO program here.

• Neighborhoood Stabilzation Program (NSP)

Nonprofit Housing also administers the Neighborhood Stabilization Program (NSP) with HOME and NSP funding for acquisition and rehabilitation of vacant, foreclosed homes in ten (10) targeted zip code areas in the City of Memphis for low-moderate-middle income families/individuals.  The NSP acquired properties must be rehabilitated for the purpose of rental, lease purchase, or homeownership in order to stabilize neighborhoods and control potential blight that foreclosures may cause.  NPH acquired 103 vacant and foreclosed homes. To date, there have been seventy-seven (77) homes sold and the remaining twenty-six (26) homes will be rental. 

DOWN PAYMENT ASSISTANCE OFFICE (DPA)

The City of Memphis, through its Division of Housing and Community Development (HCD), offers financial assistance to its citizens through the Down Payment Assistance Program (DPA), to assist with meeting the financial requirements of purchasing a home. DPA provides funds to help meet the down payment and closing cost requirements needed to complete the closing. Requirements may include income limits, employment, location of the home, and being a first-time homebuyer. All properties must be located within the city limits of Memphis and must be assessed Memphis City taxes. The maximum sales price for all programs is the current HOME Value Limits, as determined by the Department of Housing and Urban Development (HUD). Based on funding availability, the maximum amount of assistance is up to 10% of the sales price, not to exceed $10,000.

If you are ready to purchase a home, information is available to help you determine which program may fit your needs. Please click HERE to learn more about the various programs available.

AFFORDABLE HOMEOWNERSHIP AND RENTAL DEVELOPMENT OFFICE (AHRD)

The Affordable Homeownership and Rental Development Office administers three programs: The Affordable Homebuild Partnership Program, Affordable Rental Partnership Program and the Memphis Affordable Housing Trust Fund Round 2 with the primary goals of increasing affordable housing, improving neighborhoods, and building nonprofit developer capacity in the City of Memphis.

• Affordable Homebuild Partnership Program works with for-profit and non-profit housing developers to create safe,quality,affordable single-family homes for homeownership. Learn more about the Affordable Homebuild Partnership Program here
• The Affordable Rental Development Program works with nonprofit housing developers to create safe, quality, affordable housing for rental. Learn more about the Affordable Rental Partnership Program here
• The Memphis Affordable Housing Trust Fund Round 2 will work with nonprofit housing developers to acquire and/or rehabilitate multi-family properties.  Learn more about the Memphis Affordable Housing Trust Fund Round 2 here

All programs create quality and affordable homes for low-moderate income families and individuals within the city of Memphis.