HOME Coalition Sends Letter to Congress and Collecting HOME Success Story to Advocate for Funding Increase
The HOME Coalition is urging Congress to increase funding for the HOME Investment Partnerships Program (HOME) to $1.2 billion in the Fiscal Year (FY) 2018 Transportation, Housing, and Urban Development (THUD) Appropriations bill.
Congress is writing and negotiating the fiscal year (FY) 2018 Appropriations bills following the passage of the Bipartisan Budget Act of 2018. The Bipartisan Budget Act of 2018 raised the caps for discretionary spending. Congress now has the opportunity to address the urgent need for housing resources for low-income families and communities.
For over 20 years, HOME has been one of the most effective, flexible, and locally driven tools to help states and communities address their most pressing housing challenges.
Recent cuts to HOME from more than $1.8 billion in 2010 to $950 million in 2017 have only made it more difficult for America’s most vulnerable households to access a safe, decent, and affordable home.
Adequate funding for HOME is even more important this year as we anticipate HOME will be needed to provide additional gap financing in Low Income Housing Tax Credit (Housing Credit) deals impacted by the lower corporate tax rates enacted as part of tax reform and as states and localities across the country redirect their HOME funds to respond and rebuild after natural disasters.
Earlier in this appropriations cycle, over 1,500 organizations signed on the HOME Coalition’s letter supporting funding for the HOME Program in the FY 2018 Appropriations bill. Monarch Housing was proud to be one of the almost 50 organizations from New Jersey that signed the letter.
The HOME Coalition continues to accept HOME success stories showing the impact of the HOME Program and giving a face to who the program serves. We want to show the wide range of HOME so please consider sharing how you have used HOME for:
- supportive housing,
- rebuilding homes after natural disasters,
- for gap financing with the Rental Assistance Demonstration (RAD), etc.