ACTION NEEDED
Urge your House and Senate members to restore funding for the U.S. Department of Housing and Urban Development’s HOME Investment Partnerships Program (HOME) to $1.5 billion as Congress considers funding for FY 2020. The HOME program, funded through the Transportation, Housing and Urban Development (T-HUD) appropriations bill, has been cut by over 50 percent since FY 2010.
BACKGROUND
The HOME program, authorized in 1990, assists state and local governments in providing affordable housing for low-income families, helping to improve the quality of life in local communities. 60 percent of HOME funds are allocated to 650 participating jurisdictions in counties and cities and 40 percent to states. HOME funds can be used towards the acquisition, reconstruction and rehabilitation of housing. Counties can also use HOME funds for tenant-based rental assistance, and have flexibility to design policies and programs that address local affordable housing needs.
Currently, HOME is funded at $1.36 billion for FY 2018 through the omnibus bill, an increase of $412 million over FY 2017 funding levels.
President Trump’s FY 2019 budget proposal would eliminate funding for HOME, in keeping with the administration’s belief that community development and affordable housing needs are best left to state and local governments and the private sector.
NACo members are encouraged to contact their members of Congress to support $1.5 billion in funding for HOME as Congress debates FY 2019 funding levels.
KEY TALKING POINTS
- HOME funding helps local governments provide affordable housing to low income families, and to provide decent housing and enhance the quality of life of local communities.
- Funding for HOME should be restored to $1.5 billion for FY 2020. HOME funding has been reduced by nearly 50 percent since FY 2010.
- Since 1990, over one million units of housing have been produced with HOME funds. The program's flexibility allows states and local governments to use HOME funds for grants, direct loans, loan guarantees or other forms of credit enhancement, or rental assistance.
- Through HOME, states and participating local jurisdictions can also create partnerships with the private sector that promote affordable housing and leverage private sector financing.
- According to HUD, every $1.00 of HOME funding leverages $4.07 of other public and private funds. Every $1 billion in HOME funding creates or preserves approximately 18,000 jobs.
For further information, contact: Daria Daniel at 202.942.4212 or ddaniel@naco.org
