HOME Investment Partnerships Program
- Interim Policy on Maximum Per-Unit Subsidy Limits for the HOME Program
This notice establishes alternate maximum per-unit subsidy limits for the HOME Investment Partnerships Program due to the discontinuation of the Section 221(d)(3) mortgage insurance program. HUD Field Office staff and HOME participating jurisdictions (PJs) must follow this interim policy until HUD publishes a regulation for effect establishing new maximum per-unit subsidy limits for the HOME Program.
What is HOME?
HOME Investment Partnerships Program is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low income households. Each year, HUD allocates approximately $2 billion among the states and hundreds of localities nationwide. The program was designed to reinforce several important values and principles of community development.
- HOME’s flexibility empowers people and communities to design and implement strategies tailored to their own needs and priorities.
- HOME’s emphasis on consolidated planning expands and strengthens partnerships among all levels of government and the private sector in the development of affordable housing.
- HOME’s technical assistance activities are set-aside for qualified community-based nonprofit housing groups which builds the capacity of these partners.
- HOME’s requirement that participating jurisdictions match 25 cents of every dollar in program funds mobilizes community resources in support of affordable housing.