FY 1998 SuperNOFA Guidebook
Home Investment Partnerships Program
The HOME Investment Partnerships program affirms the Federal Government�s commitment to provide decent, safe, and affordable housing to all Americans and to alleviate the problems of excessive rent burdens, homelessness, and deteriorating housing stock. HOME provides funds and general guidelines to State and local governments to design affordable housing strategies that address local needs and housing conditions. HOME strives to meet both the short-term goal of increasing the supply and availability of affordable housing and the long-term goal of building partnerships between State and local governments and private and nonprofit housing providers. The funds may be used for such activities as tenant-based rental assistance, homebuyers assistance, property acquisition, new construction, rehabilitation, site improvements, demolition, relocation, and administrative costs. All HOME-based housing and rental assistance must be targeted to low-income families. HOME funds may not be used as matching funds for other Federal programs. Jurisdictions must reserve 15 percent of their HOME funds for housing to be developed, sponsored, or owned by Community Housing Development Organizations (CHDOs). A CHDO is a private, community-based nonprofit organization that has among its purposes the provision of decent, affordable housing for low-income persons. In FY98, $1.5 billion (less $30 million in set-asides) is appropriated for the HOME program.
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|Content Archived: July 19, 2012|