If the organization was created by a governmental entity, then the governmental §92.2 CHDO Applicable Definition ¶ (5) entity that created the organization may not appoint more than 1/3 of the board members and board members appointed by the governmental entity may not appoint remaining 2/3. If the organization was created by a for-profit entity, then 2.4.1 through 2.4.4 Applicable apply: The for-profit entity that sponsored or created the organization may not §92.2 CHDO have as its primary purpose the development or management of housing, Definition ¶ (3)(i) such as a builder, developer, or real estate management firm. The for-profit entity that created the organization may not appoint more §92.2 CHDO than 1/3 board members, and for-profit-appointed members may not Definition ¶ appoint remaining 2/3 of board. (3)(ii) Officers and employees of the for-profit entity that created the organization §92.2 CHDO cannot be officers or employees of the CHDO. Definition ¶ (3)(iv) The organization must be free to contract for goods & services with others. §92.2 CHDO Definition ¶ (3)(iii) Accountability to the Low Income Community The organization must have a designated service area (i.e. the in §92.2 CHDO “community” it produces housing). A community can be a neighborhood or Definition ¶ (8)(i) neighborhoods, city, county, metropolitan area, or multi-county area (but not the entire State). At least 1/3 of the board members are: 1) low-income; 2) residents of a §92.2 CHDO neighborhood; or 3) elected representatives of a low-income Definition ¶ (8)(i) neighborhood organization. The organization has a formally adopted process for low-income beneficiaries to §92.2 CHDO advise it on decisions regarding design, siting, development, and management of Definition ¶ housing. (8)(ii) The organization has at least 1 year of serving the community, or, if it is formed §92.2 CHDO by local churches, service organizations, or neighborhood organizations, its Definition ¶ (10) parent organization meets this requirement. Capacity The organization has financial management systems that conform to 2 CFR §92.2 CHDO 200.302 and 200.303 Definition ¶ (6)
If the organization was created by a governmental entity, then the governmental entity that created the organization may not appoint more than 1/3 of the board members and board members appointed by the governmental entity may not appoint remaining 2/3. §92.2 CHDO Definition ¶ (5) Applicable If the organization was created by a for-profit entity, then 2.4.1 through 2.4.4 apply: Applicable The for-profit entity that sponsored or created the organization may not have as its primary purpose the development or management of housing, such as a builder, developer, or real estate management firm. §92.2 CHDO Definition ¶ (3)(i) The for-profit entity that created the organization may not appoint more than 1/3 board members, and for-profit-appointed members may not appoint remaining 2/3 of board. §92.2 CHDO Definition ¶ (3)(ii) Officers and employees of the for-profit entity that created the organization cannot be officers or employees of the CHDO. §92.2 CHDO Definition ¶ (3)(iv) The organization must be free to contract for goods & services with others. §92.2 CHDO Definition ¶ (3)(iii) Accountability to the Low Income Community The organization must have a designated service area (i.e. the “community” in it produces housing). A community can be a neighborhood or neighborhoods, city, county, metropolitan area, or multi-county area (but not the entire State). §92.2 CHDO Definition ¶ (8)(i) At least 1/3 of the board members are: 1) low-income; 2) residents of a neighborhood; or 3) elected representatives of a low-income neighborhood organization. §92.2 CHDO Definition ¶ (8)(i) The organization has a formally adopted process for low-income beneficiaries to advise it on decisions regarding design, siting, development, and management of housing. §92.2 CHDO Definition ¶ (8)(ii) The organization has at least 1 year of serving the community, or, if it is formed by local churches, service organizations, or neighborhood organizations, its parent organization meets this requirement. §92.2 CHDO Definition ¶ (10) Capacity The organization has financial management systems that conform to 2 CFR 200.302 and 200.303 §92.2 CHDO Definition ¶ (6)
CHDO%20Req%20Checklist.docx