HOME Investment Partnerships Program (HOME)
The HOME Investment Partnerships (HOME) program is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low-to-moderate income households. Implementing regulations can be found at Title 24 Code of Regulations, Part 92, as amended (The Final Rule).
Under the HOME Investment Partnerships Program, HUD allocates funds by formula among eligible state and local governments to strengthen public‐private partnerships and to expand the supply of decent, safe, sanitary, and affordable housing, with primary attention to rental housing, for very low‐income and low‐income families.
The intent of the HOME Program is to:
- Provide decent affordable housing to lower‐income households,
- Expand the capacity of nonprofit housing providers,
- Strengthen the ability of state and local governments to provide housing; and
- Leverage private‐sector participation.
State and local governments may use HOME funds to carry out multi‐year housing strategies through acquisition, rehabilitation, and new construction of housing, and tenant‐based rental assistance. Participating jurisdictions may provide assistance in a number of eligible forms, including loans, advances, equity investments, interest subsidies and other forms of investment that HUD approves.
HOME funds may be used to develop and support affordable rental housing and homeownership affordability through:
- Acquisition (including assistance to homebuyers)
- Tenant-based rental assistance to eligible household(s), including security deposits;
- Operating expenses of community housing development organizations.
- New construction (includes adding additional units to an existing structure), Reconstruction, or rehabilitation of non-luxury housing with suitable amenities, including related costs such as:
- Real property acquisition,
- Site improvements,
- Demolition, and
- Other eligible expenses including financing costs, relocation expenses of any displaced persons, families, businesses, or organizations.
All housing supported with HOME funds must be permanent or transitional housing. The specific eligible costs for these activities are set forth in 24 CFR 92.206 through 209. The activities and costs are eligible only if the housing meets the property standards as outlined at 24 CFR 92.251 upon project completion.
Subrecipients must contribute or match no less than 25 cents for each dollar of HOME funds spent on affordable housing, unless reduced by HUD due to city fiscal conditions. The matching contribution adds to the resources available for HOME-assisted or HOME-eligible projects, and must come in the form of a permanent contribution to affordable housing.
For More Information
- See the HUD website for more details on this program: https://www.hudexchange.info/programs/home/
- Download and review the HUD Entitlement Policies & Procedures Manual on our Subrecipient Resources page
- Email us at email@example.com