HUD released an analysis on July 7 that shows funding levels each participating jurisdiction will receive from the HOME Investment Partnerships (HOME) program under the Senate Committee on Appropriations’ proposed allocation of just $66 million for FY16. The block grant program is used to provide homeownership assistance, rental production funding, and tenant-based rental assistance.
The Committee’s version of the Transportation, Housing and Urban Development, and Related Agencies (THUD) spending bill would cut the HOME program by 93% from $900 million in FY15 to $66 million in FY16 (see Memo, 6/29), effectively terminating the program. Some jurisdictions would receive as little as $10,000.
Some examples of the funding levels participating jurisdictions will receive if HOME is only appropriated $66 million are:
- New York City: $3,717,194 (down from $50,594,954 in FY15)
- Houston: $464,064 (down from $6,316,418 in FY15)
- Los Angeles County: $427,256 (down from $5,815,402 in FY15)
- Baltimore: $222,625 (down from $3,030,159 in FY15)
- St. Louis: $148,352 (down from $2,024,052 in FY15)
The proposed cut to HOME was necessitated by spending caps dictated by Budget Control Act of 2011 (BCA). NLIHC has urged Congress to reverse the sequestration cuts put in place by the BCA and enact legislation similar to the 2014 Murray-Ryan agreement that provided sequester relief for FY14 and FY15.
The HOME data are at http://nlihc.org/sites/default/files/HOME_2015-2016_Budget-request_Projection-66m.pdf.