Homeword

PROPERTY MANAGEMENT:Daily activities are contracted with qualified third-party property management companies. Homeword oversees the asset management of the developed properties including regulatory compliance and financial management once housing development completes construction and development of the properties.

HOME OWNERSHIP CENTER:Homeword's Home Ownership Center provides a variety of counseling and education services to people living with low to moderate incomes at no cost, including homebuyer, financial and renter education and counseling. Since 1997, Homeword has empowered over 19,500 people. Costs associated with the Home Ownership Center include staff wages, office space rent, training supplies, child care, and other costs incurred in providing the training and counseling services.

HOUSING DEVELOPMENT:Housing development provides homes people can afford to families with lower income through development of single-family and multi-family projects and preservation of existing homes. Development is also responsible for the formation of tax credit partnerships and other legal entities created for the purpose of ownership and development. Costs include staff wages, unrecouped expenses associated with new or rehabilitation predevelopment and construction management costs. Nearly all of development income is generated via federal and state grants and is passed through directly to the projects in forms of loans and equity. Homeword retains a portion of any developer fee not deferred for operations.

ASSET MANAGEMENT:Asset Management is responsible for managing Homeword's properties.