Community Housing Development Organization Certification Application - Arkansas

Community Housing Development Organization Certification Application is a legal document that was released by the Arkansas Development Finance Authority - a government authority operating within Arkansas.

FAQ

Q: What is the Community Housing Development Organization (CHDO) certification?
A: The CHDO certification is a designation given to organizations that meet certain criteria to develop affordable housing.

Q: Why would an organization want CHDO certification?
A: Organizations seek CHDO certification to access federal funding and tax incentives for developing affordable housing.

Q: What are the requirements to obtain CHDO certification?
A: To obtain CHDO certification, an organization must meet specific criteria, such as being a nonprofit, having a board of directors, and demonstrating experience in affordable housing development.

Q: How can an organization in Arkansas apply for CHDO certification?
A: Organizations in Arkansas can apply for CHDO certification by submitting a completed application to the Arkansas Development Finance Authority (ADFA).

Q: What are the benefits of CHDO certification?
A: CHDO certification allows organizations to access federal funding programs such as HOME Investment Partnerships and Community Development Block Grants for affordable housing projects.

Q: Does CHDO certification guarantee funding for affordable housing projects?
A: No, CHDO certification does not guarantee funding. It makes organizations eligible to apply for certain funding programs but does not guarantee approval or award of funding.

Q: Is CHDO certification specific to Arkansas?
A: No, CHDO certification is not specific to Arkansas. It is a national designation recognized by the U.S. Department of Housing and Urban Development (HUD).

Q: What is the role of the Arkansas Development Finance Authority (ADFA) in the CHDO certification process?
A: The ADFA is responsible for reviewing and approving CHDO certification applications in Arkansas.

Q: Are there any fees associated with CHDO certification?
A: Yes, there may be application fees and annual reporting fees associated with CHDO certification. The specific fees and requirements are determined by the ADFA.

Q: Can organizations outside of Arkansas apply for CHDO certification?
A: Yes, organizations outside of Arkansas can also apply for CHDO certification. The process and requirements may vary depending on the state or jurisdiction.