CHDO Requirements Checklist
CHDO Requirements Checklist
General Items
- Document compliance with CHDO qualifications as defined by HUD.
- Prepare and submit required reports to HUD and local authorities.
- Develop a strategic plan outlining future housing projects.
- Ensure all staff are trained on CHDO regulations and best practices.
Organizational Structure
- Verify non-profit status under IRS 501(c)(3) or equivalent.
- Ensure at least 51% of the Board members are low-income individuals.
- Confirm that the organization is governed by a voluntary board.
- Establish a clear mission statement focused on providing affordable housing.
Financial Management
- Develop a detailed budget for the organization.
- Implement financial controls and accounting systems.
- Conduct annual audits by an independent auditor.
- Ensure compliance with federal, state, and local financial regulations.
Housing Development Experience
- Demonstrate experience in developing affordable housing projects.
- Maintain records of past housing development successes.
- Show partnerships with local governments or other housing agencies.
Community Engagement
- Conduct needs assessments within the community.
- Engage with community members in the planning process.
- Establish collaborative relationships with local organizations.
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