HOME Investment Partnerships Program
Stored: HOME Investment Partnerships Program
| Type | Program |
|---|---|
| Sponsor Organization | Office of Community Planning and Development |
| Top Organization | Department of Housing and Urban Development |
| Creation Legislation | National Affordable Housing Act of 1990 (Public Law 101-625) |
| Website | Website |
| Purpose | The HOME Investment Partnerships Program, administered by the U.S. Department of Housing and Urban Development (HUD) through its Office of Community Planning and Development, provides formula grants to states, local governments, and consortia to fund affordable housing for low- and very low-income households. It aims to expand the supply of decent, safe, and affordable housing, support homeownership, and revitalize communities through flexible funding for construction, rehabilitation, and rental assistance. |
| Program Start | 1992 |
| Initial Funding | $1.5 billion |
| Duration | Ongoing |
| Historic | No |
The HOME Investment Partnerships Program, established in 1992 under the National Affordable Housing Act of 1990, is administered by the Department of Housing and Urban Development (HUD) through its Office of Community Planning and Development to provide formula grants to participating jurisdictions (PJs), allocating over $30 billion since inception to support approximately 1.2 million housing units annually by 2025. Initially funded with $1.5 billion, it has grown to distribute $1.5 billion in FY 2024 across 600 awards, funding initiatives like new construction, rehabilitation, and tenant-based rental assistance for low-income families and individuals.[1] Despite its impact, challenges like funding constraints, matching requirements, and regional disparities persist (web ID: 0), but it remains a cornerstone of HUD’s affordable housing efforts.
Goals
- Expand the supply of decent, safe, and affordable housing for low- and very low-income households.
- Support homeownership and rental housing opportunities through flexible grant funding.
- Revitalize communities and promote sustainable housing development through partnerships with local governments and nonprofits.[2]
Organization
The HOME Investment Partnerships Program is managed by HUD’s Office of Community Planning and Development, overseen by Assistant Secretary Adrianne Todman since 2021, with participating jurisdictions (PJs) implementing projects under federal oversight. It operates via annual appropriations, guided by the National Affordable Housing Act and subsequent funding acts like Public Law 117-328 (2022).[3]
Partners
History
Authorized by the National Affordable Housing Act of 1990 (Public Law 101-625) and launched in 1992 with $1.5 billion, the HOME Investment Partnerships Program expanded with annual appropriations, reaching $1.5 billion in FY 2024.[4] It grew from assisting 300,000 housing units annually in 1993 to 1.2 million by 2025, addressing disparities with innovations like tenant-based rental assistance (web ID: 0). By 2025, it has awarded over $30 billion, though GAO notes funding constraint concerns (web ID: 0).
Funding
Initial funding of $1.5 billion in 1992 supported the program’s launch, with over $30 billion appropriated by 2025 via annual HUD budgets—e.g., $1.5 billion in FY 2024.[5] Ongoing appropriations under the National Affordable Housing Act sustain its operations, with no fixed end as it addresses ongoing affordable housing needs, requiring a 25% non-federal match from PJs (web ID: 0).
Implementation
HOME distributes formula grants annually, requiring PJs to use funds for eligible housing activities, tracked via HUD’s Integrated Disbursement and Information System (IDIS).[6] It progresses through partnerships with local governments and nonprofits—e.g., 1.2 million units yearly—and program expansions, adapting to housing needs with no set end, though matching requirements remain a challenge (web ID: 0).
Related
External links
- https://www.hud.gov/program_offices/comm_planning/home
- https://www.nahro.org
- wikipedia:HOME Investment Partnerships Program
Social media
References
- ↑ "HOME Investment Partnerships Program". U.S. Department of Housing and Urban Development. https://www.hud.gov/program_offices/comm_planning/home.
- ↑ "HOME Program Overview". U.S. Department of Housing and Urban Development. https://www.hud.gov/sites/documents/DOC_35630.PDF.
- ↑ "About HUD Leadership". U.S. Department of Housing and Urban Development. https://www.hud.gov/about/leadership.
- ↑ "National Affordable Housing Act of 1990". U.S. Congress. https://www.congress.gov/bill/101st-congress/house-bill/5332.
- ↑ "HOME Investment Partnerships Program". U.S. Department of Housing and Urban Development. https://www.hud.gov/program_offices/comm_planning/home.
- ↑ "Integrated Disbursement and Information System". U.S. Department of Housing and Urban Development. https://www.hud.gov/program_offices/comm_planning/idispgm.