Critical Funding Source for Affordable Housing
Sign Letter by Friday July 24, 2015
Please join Monarch Housing Associates and the Housing and Community Development Network of New Jersey (The Network) in signing a letter telling Congress to stop any further funding cuts to the HOME Investment Partnerships program (HOME).
The national campaign is being lead by the National Council of State Housing Agencies (NCSHA).
The deadline to sign on is Friday, July 24, 2015.
The HOME program has been a critical funding source for the creation of affordable housing in New Jersey. Through the HOME program, nonprofits have been able to build, buy, and/or rehabilitate affordable homes for rent or home-ownership and provide direct rental assistance to our most vulnerable residents.
This year, Congress has proposed to essentially eliminate a critical program that helps some of America’s most vulnerable residents—seniors, people with disabilities, low-income families with children, veterans, and people experiencing homelessness—access safe, decent, and affordable housing.
The HOME Investment Partnerships program (HOME) is simply too important, too successful, and too effective a tool to face any further cuts. Not only has the program already been slashed by 50% in recent years (from $1.8 billion in 2010 to $900 million in 2015); further cuts will make it even harder for communities to address local housing needs.
The House bill does nothing to restore cuts HOME has suffered in recent years and only provides $767 million in appropriated funds, down from $900 million in FY 2015 and 58% less than in FY 2010. The bill also contains a highly objectionable transfer that would essentially eliminate a new housing resource—the National Housing Trust Fund—in an attempt by the Appropriations Committee to fund HOME at its record low $900 million level.
The Senate bill’s severe cuts in HOME funding amount to a shocking 93% decrease, which would essentially eliminate the program altogether.
Our nation cannot afford any further cuts to highly successful and effective federal housing programs, like HOME. Our families and communities deserve better!
Please click here to sign on to the HOME Coalition’s letter.
Click here to contact your NJ Congressional representative and his/her housing staffer.
Please click here to learn more about the National Council on State Housing Agency’s HOME Coalition.