Content provided by the Catalog of Federal Domestic Assistance
14.239 HOME Investment Partnerships Program
COMMUNITY PLANNING AND DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
National Affordable Housing Act, Title II, 1990, as amended.
(1) To expand the supply of affordable housing, particularly rental housing, for low and very low income Americans; (2) to strengthen the abilities of State and local governments to design and implement strategies for achieving adequate supplies of decent, affordable housing; (3) to provide both financial and technical assistance to participating jurisdictions, including the development of model programs for developing affordable low income housing; and (4) to extend and strengthen partnerships among all levels of government and the private sector, including for-profit and nonprofit organizations, in the production and operation of affordable housing.
TYPES OF ASSISTANCE:
USES AND USE RESTRICTIONS:
For use by participating jurisdictions or Insular Areas for housing rehabilitation, tenant-based rental assistance, assistance to homebuyers, acquisition of housing and new construction of housing. Funding may also be used for other necessary and reasonable activities related to the development of non-luxury housing, such as site acquisition, site improvements, demolition and relocation. Ten percent of a participating jurisdiction's allocation may be used for administrative costs. Funds may not be used for public housing modernization, matching funds for other Federal programs, reserve accounts or operating subsidies for rental housing, Annual Contributions Contracts, or activities under the Low Income Housing Preservation Act except for priority purchasers.
Applicant Eligibility: States, cities, urban counties, and consortia (of contiguous units of general local governments with a binding agreement) are eligible to receive formula allocations; funds are also set aside for grants to Insular Areas.
Pre-application Coordination: HUD produces an annual list of each jurisdiction's formula allocation. This program is excluded from coverage under E.O. 12372.
Formula and Matching Requirements: The formula is a system of factors established to reflect a jurisdiction's need for an increased supply of affordable housing for low and very low income families. Designed by HUD to meet statutory criteria, it is based on a jurisdiction's inadequate housing supply, substandard housing, the number of low income families in housing units likely to be in need of rehabilitation, the cost of producing housing, poverty, and the relative fiscal incapacity of the jurisdiction to carry out housing activities without Federal assistance. Each jurisdiction must make matching contributions to affordable housing throughout a fiscal year in an amount not less than 25 percent of the HOME funds drawn from the U.S. Treasury during the federal fiscal year for projects. Jurisdictions in fiscal distress receive full or partial (50 percent) relief from this requirement.
POST ASSISTANCE REQUIREMENTS:
Reports: Financial management and annual performance reports.
Account Identification: 86-0205-0-1-604.
As of September 30, 2001, 613,460 units were committed; 398,245 units were completed; and 73,700 families have received tenant-based rental assistance.
REGULATIONS, GUIDELINES, AND LITERATURE:
24 CFR Part 92.
Regional or Local Office: Contact appropriate HUD Field Office listed in Appendix IV of the Catalog.
EXAMPLES OF FUNDED PROJECTS:
CRITERIA FOR SELECTING PROPOSALS: