The HOME program is an important resource for development of low income housing. Funding for the HOME Investment Partnerships Program has been cut precipitously since FY10, when HOME received a $1.8 billion appropriation. In FY16, Congress appropriated only $950 million for the HOME program.
HOME is a flexible block grant that provides states and localities critical resources to help them respond to their affordable housing challenges, including both rental and homeownership needs by targeting resources to low income families.
If the HOME program is used for rental housing, at least 90% of units assisted throughout the jurisdiction must be for households under 60% area median income (AMI), with the remainder for households up to 80% AMI. If there are more than five HOME-assisted units in a building, then 20% of the HOME-assisted units must be for households under 50% of AMI. All assisted homeowners must be below 80% of AMI.
For more information, contact Ed Gramlich, Special Advisor, at firstname.lastname@example.org or 202.662.1530 x314, or Elayne Weiss, Policy Analyst, at email@example.com. Members of the media should contact Renee Willis, Vice President for Field and Communications, at 202.662.1530 x247 or firstname.lastname@example.org.