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Adjudicated Property
An adjudicated property is a property that has been placed in state or local government hands because property taxes have not been paid.

Affordability / Affordable
Describes the relationship between household income, housing costs and established standard of affordability. The standard for “Affordable” means the following:

  1. For rental housing: the agency utilizes the HUD affordability standard, which states that the rent plus expenses associated with occupancy, such as tenant paid utilities or fees, does not exceed 30% of the gross household income, based on unit size, at the level of the rent restriction.
  2. For homeownership units: the purchase price, for which the sum of debt service and housing expenses (including an allowance for utilities and other required ownership fees), when compared to the annual gross income for a family, adjusted for family size, does not preclude conventional mortgage financing.

Area Median Income

Anchor Institutions
Large organizations, most often public or nonprofit, that are primarily anchored in place—colleges and universities, hospitals and health-care facilities, utilities, faith-based organizations, museums, and arts centers. Anchor institutions are key drivers of local and regional economic opportunity. Anchor institutions offer stable jobs, many with career ladders and good wages and benefits, and strong purchasing power of goods and services.

More information coming soon.

Community Development Block Grant (CDBG)
The Community Development Block Grant (CDBG) program is a flexible program that provides communities with resources to address a wide range of unique community development needs. Beginning in 1974, the CDBG program is one of the longest continuously run programs at HUD. The CDBG program provides annual grants on a formula basis to 1209 general units of local government and States. For more information see: https://www.hud.gov/program_offices/comm_planning/communitydevelopment/programs

CDC – Community Development Corporation
Community development – A process wherein community members come together to take action and generate solutions (economic, place-based, social, environmental, and cultural) to common problems.

Construction Loan
A short-term loan usually made to finance the actual construction or renovation of improvements on land. The funds are disbursed as needed or in accordance with a prearranged plan and the money is repaid on completion of a project usually from the proceeds of a permanent loan.

Community Partners Program


Deed Restrictions
Legal document recorded against the completed property or project. (See also ‘long-term affordability period’).


Extremely Low Income Household
Means household income at or below 30% MFI.

More information coming soon.

The process by which an undervalued neighborhood becomes desirable, causing property values to rise and competition for property in the neighborhood to intensify. This process ultimately results in the displacement of lower income households due to the loss of affordable housing, often with a corresponding change in racial and ethnic makeup of a neighborhood’s residents and businesses.

GIS (Graphic Information Systems)
GIS technology is used to develop maps that depict resources or features such as soil types, population densities, land uses, transportation corridors, waterways, etc. GIS computer programs link features commonly seen on maps (such as roads, town boundaries, water bodies) with related information not usually presented on maps, such as type of road surface, population, type of agriculture, type of vegetation, or water quality information. A GIS is a unique information system in which individual observations can be spatially referenced to each other.


Housing Opportunities Made Equal (HOME)
The HOME Investment Partnerships Program (HOME) provides formula grants to States and localities that communities use – often in partnership with local nonprofit groups – to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people. HOME is the largest Federal block grant to state and local governments designed exclusively to create affordable housing for low-income households. HOME funds are awarded annually as formula grants to participating jurisdictions (PJs).The program’s flexibility allows States and local governments to use HOME funds for grants, direct loans, loan guarantees or other forms of credit enhancements, or rental assistance or security deposits. For more information, please visit: https://www.hud.gov/program_offices/comm_planning/affordablehousing/programs/home/

United States Department of Housing and Urban Development


Means gross household income computed in conformity with HUD income limits.

More information coming soon.
More information coming soon.

Land Banks
Land banks are generally public agencies or community-owned organizations created to hold, maintain and repurpose foreclosed properties that are vacant and/or abandoned

Leadership in Energy and Environmental Design

Long-Term Affordability Period
A period to ensure income and rent limits agreed to as conditions of public funding through a recorded deed restriction on the project on a specified number of units in a project.

Household income at or below 60 percent of MFI.


Market Rate Housing
Housing for which rents are not suppressed or restricted to below rents of the surrounding community generally considered to be 80 percent MFI or above although ‘market’ varies by neighborhood and location.

Median Family Income (MFI)
An income threshold set by Department of Housing and Urban Development, updated annually, generally in December. New thresholds are effective immediately.

Mixed Income Housing
A housing development open to persons or families at varying income levels. More specifically at both affordable and market rate income levels.

Mixed Use Development
Mixed use developments include residential, commercial, and business accommodations in one area.

Memorandum of Understanding


New Market Tax Credit

Notice of Funding Availability


Operating Budget (also Pro Forma)
Pro forma, is a schedule that includes a rent schedule, anticipated operating expenses, vacancy rates, and all other information pertinent to the operation of the property. Operating income and expenses are generally projected for at least ten years.


Permanent Loan
A long term loan, usually with a term between 10 and 40 years, the proceeds of which are used to repay a construction loan.

Pro forma
Pro forma, is a schedule that includes a rent schedule, anticipated operating expenses, vacancy rates, and all other information pertinent to the operation of the property. Operating income and expenses are generally projected for at least ten years.

More information coming soon.

Request For Proposal

Request For Qualifications


Single-Family Housing
A detached housing structure that contains 1 dwelling unit.


Term of Affordability
A specific period of time during which project rents are restricted for a specified number of units and during which the borrower agrees to provide annual operating data to verify compliance.

More information coming soon.

Very Low Income
Means household income at or below 50 percent of MFI.

More information coming soon.
More information coming soon.
More information coming soon.
More information coming soon.