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 the jurisdiction must be for households with income less than 60% of the 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 with income less than 50% of AMI. All assisted homeowners must be below 80% of AMI.
For more information, contact Ed Gramlich, Special Advisor, at email@example.com or 202.662.1530 x314, or Elayne Weiss, Policy Analyst, at firstname.lastname@example.org. Members of the media should contact Renee Willis, Vice President for Field and Communications, at 202.662.1530 x247 or email@example.com.
The following documents are provided with this article:
HOME Investment Partnerships Program Resources
January 9, 2017
August 22, 2016
February 16, 2016