The purpose of the Title VI loan guarantee is to assist IHBG recipients (borrowers) who want to finance additional grant-eligible construction or development at today’s costs. This can be used to create new housing, rehabilitate housing, build infrastructure, construct community facilities, and acquire community land for housing, among other activities.
Example Eligible IAQ Activities:
Development, Rehabilitation, Energy Efficiency, Weatherization, Ventilation
Tribes use IHBG funds to leverage additional funds for larger projects
The maximum guarantee amount that a tribe/TDHE can borrow is approximately five times the need portion.
Tribes can stretch loan payments to up to 20 years.
US Department Of Housing And Urban Development (HUD)
The Department of Housing and Urban Development (HUD) is responsible for national policy and programs that address America’s housing needs, that improve and develop the Nation’s communities, and enforce fair housing laws. HUD’s business is helping create a decent home and suitable living environment for all Americans, and it has given America’s communities a strong national voice at the Cabinet level. HUD plays a major role in supporting homeownership by underwriting homeownership for low and moderate income families through its mortgage insurance programs.
The primary programs administered by HUD include:
Mortgage and loan insurance through the Federal Housing Administration;
Community Development Block Grants to help communities with economic development, job opportunities and housing rehabilitation;
Rental assistance in the form of Section 8 certificates or vouchers for low-income households; and