Summary of Specifications:
HOME Investment Partners Grant (HOME) HOME is the largest federal block grant to state and local governments designed exclusively for creating affordable housing to low- to moderate-income households. HOME provides formula grants to states and Participating Jurisdictions (local governments) to use in partnership with local nonprofit organizations, owners, sponsors, and/or developers to fund a wide range of allowable activities located at 24 CFR Part 92. HOME is authorized under Title ll of the Cranston-Gonzalez National Affordable Housing Act, as amended, 42 U.S.C. 12704. Key substantive changes were made in 2013 to the HOME Final Rule including but now limited to: • Accelerating the timely production and occupancy of assisted housing, • Strengthening the performance of Participating Jurisdictions and their partners in producing and preserving affordable housing units, • Proving Participating Jurisdictions (PJ) with greater flexibility in the design and implementation of their projects, and • Increasing administrative transparency and accountability Detailed information regarding the newly established 2013 HOME Final Rule can be located online at: https://www.hudexchange.info/home/home-final-rule/highlights-of- he-changes-in-the-home-final-rule/. Additional information regarding the HOME program can be located by visiting the HOME program web pages at http://www.hud.gov/offices/cpd/affordablehousing/programs/home/. Eligible Activities Eligible activities include: Acquisition and rehabilitation of homebuyer properties for sale to low- to moderate- income homebuyers
