The HOME program is an important resource for the 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. However, in subsequent years appropriated amounts have gradually increased.
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 a jurisdiction must be for households with incomes of less than 60% of the area median income (AMI), with the remainder of assisted units for households with incomes of less than 80% of AMI. If there are more than five HOME-assisted units in a building, then 20% of the HOME-assisted units must be for households with incomes less than 50% of AMI. All assisted homeowners must earn less than 80% of AMI.
For more information, contact Ed Gramlich, Special Advisor, at [email protected] or 202.662.1530 x314, or Sarah Saadian, Senior Vice President of Public Policy and Field Organizing, at [email protected]. Members of the media should contact Renee Willis, Senior Vice for Racial Equity, Diversity, and Inclusion, at 202.662.1530 x247 or [email protected].
The following documents are provided with this article: