NJ Faces 93% HOME Funding Cut

State Has Created 10,455 Affordable Rental Units
Through HOME Investment Partnership Program

NJ Faces 93% HOME Funding CutMonarch Housing is proud to be among the 68 organizations in New Jersey who are working to #SaveHOME and joined the national sign-on letter to Congressional leadership urging them to restore HOME (Investment Partnerships) program funding to at least $1.06 billion, as requested by President Obama. More than 1,500 national, state, and local organizations and municipalities signed the letter.

HOME is the only federal housing program exclusively focused on providing states and local communities with the flexible gap financing needed to improve access to safe, decent, and affordable housing.

The proposed Senate cuts to HOME would have a devastating effect on New Jersey:

  • New Jersey would lose $21,010,760 in 2016 – translating into a 93% cut and
  • From 1992-2014, NJ has used to create 10,455 affordable rental units (and a total of 26,574 home-ownership and rental units) with a total of almost $700 million in federal funding.

Click here for the national HOME letter and list of NJ organizations.

Click here to visit HOME Coalition’s website and advocacy tools.