HUD published a Final Rule in the Federal Register on July 24, 2013 to amend the HOME Investment Partnerships (HOME) Program regulations. These amendments to the HOME regulations represent the most significant changes to the HOME Program in 17 years.
The HOME Program is the largest federal block grant program for affordable housing. It provides funding to State and local governments for rental and homebuyer housing development, homebuyer (downpayment) assistance, homeowner rehabilitation assistance and tenant-based rental assistance. Since its inception, many HOME participating jurisdictions (PJs) have encountered new challenges in administering their programs and in managing their growing portfolios of older HOME projects. These challenges have been intensified by recent housing and credit market conditions. Over the years, HUD has invested significant time and resources in helping jurisdictions operate affordable housing programs and correct financial and physical problems that threaten the viability of HOME-assisted housing.
Informed by what HUD and HOME PJs have learned over the years, HUD made significant changes to the HOME program regulations with the overall goal of providing PJs and their partners with regulatory guidance to enhance the efficiency and effectiveness of the HOME Program in the context of a more complex housing and community development environment.
Click on the links below for additional information about the HOME Final Rule:
In the coming weeks and months, HUD will continue to provide guidance and additional resources to PJs, Community Housing Development Organizations (CHDOs), and program participants on specific aspects of the new requirements. The additional resources include: HUD Notices, webcasts, live webinars, updated publications, and various in-person training opportunities. Please sign up for the HOME Mailing List to be notified when each resource becomes available.
Please contact your local HUD Field Office with questions about the HOME Final Rule.