Congress recently passed the FY 2018 appropriations omnibus, which increased HOME funding to $1.362 billion. This increase was a significant step in the right direction.
Given the growing need for affordable housing and the longstanding success of the HOME Program, the HOME Coalition is urging Congress to Save Home by restoring HOME funding to at least $1.5 billion in FY 2019.
The HOME Coalition is circulating a national sign-on letter urging Congress provide at least $1.5 billion for the HOME Program in FY 2019. National, state and local organizations are encouraged to sign the letter. The deadline to sign on is COB Friday, April 20, 2018.
Click here to read the letter and sign on now. Last year over 1,500 organizations signed on. Monarch Housing Associates was proud to be one of the almost 50 organizations in New Jersey that signed on to last year’s letter.
If your organization signed on last year, then you do not need to sign on again. Click here to view the list of organizations that signed on to the FY 2018 letter.
For over 20 years, the HOME Investment Partnerships Program (HOME) has proven to be one of the most effective, locally driven tools to help states and communities provide access to safe, decent and affordable housing for low-income residents.
HOME is a federal block grant program administered by the U.S. Department of Housing and Urban Development (HUD).
States and local governments receive HOME funds annually according to a statutory formula.
States administer 40 percent of HOME funds, and local communities administer the remaining 60 percent.
HOME is the only federal housing program exclusively focused on providing states and local communities with flexible financing to address their most pressing affordable housing needs.
Since 1990, across the United States, HOME has built or preserve 1.19 million homes and given 271,177 families rental assistance. HOME has invested $26.3 billion in affordable housing across the country.
Flexibility and local control drive HOME’s success. States and local communities use HOME to fund new production where affordable housing is scarce, rehabilitation where housing quality is a challenge, rental assistance where homes are available and homeownership opportunities when those are needed.
By law, HOME is targeted to low-income households earning less than 80 percent of the area median income. It serves people with the greatest needs, including seniors, people with disabilities, families with children, veterans and people experiencing homelessness.
When Congress created HOME, they designed the program to empower local decision-making. HOME has been successfully used in every congressional district and in rural, suburban and urban communities alike.