family home sold

Utah Valley HOME Constortium

History of the Consortium
In the early 1990’s, Utah Valley faced a severe housing shortage. The Council of Governments developed a task force to examine ways to mitigate this pressing issue. Concurrently, a study assessing current and future housing needs of Utah Valley was completed by a University of Utah Economist. Out of these efforts arose support for development for what is now the Utah Valley HOME Consortium.

Who are the Member Communities?
All cities within Utah County (including unincorporated Utah County) qualify EXCEPT Eagle Mountain, Highland, Woodland Hills, Fairfield and Provo - Provo has its own program (the Home Purchase Plus Program).

How are HOME Funds Allocated?
HOME funding is based on a “formula allocation” process designed to reflect relative housing needs and population. States are automatically eligible for HOME funds and receive either their formula allocation or $3 million, whichever is greater. Local jurisdictions eligible for at least $500,000 can also receive an allocation. Communities that do not qualify for a formula allocation can band together with one or more neighboring localities in a legally binding consortium to take a more regional, collaborative approach to meeting their affordable housing needs. The HOME Investment Partnership Interlocal Cooperation Agreement is the binding document between Provo City and other members.

Provo City’s Involvement
Provo City was the only member community eligible to receive an allocation of HOME funds and is known as the “Participating Jurisdiction” (PJ). PJs bear the responsibility of ensuring program compliance and meeting monitoring and reporting requirements which includes preparation of the Consolidated Plan for HUD’s approval.

What is the Consolidated Plan?
The Consolidated Plan is a funding document which forms the blueprint for affordable housing strategy. The Consolidated Plan process enables a jurisdiction to document its housing and community development needs and to formulate a strategic plan for addressing those needs. It also shows how the proposed use of HOME funds fits into the broader, coordinated strategy. It is a comprehensive document that addresses other funding sources, community needs and strategies which include: CDBG (Community Development Block Grant), ESG (Emergency Shelter Grant), and HOPWA (Housing Opportunities for Persons with Aids). Provo and Orem cities are the only two consortium cities receiving a direct CDBG allocation. Other consortium cities receive CDBG funding through Mountainland Association of Governments. The Consortium chose to develop a five-year vs. a three-year plan option.