Sending Office: Honorable Marcia L. Fudge
Sent By:
Joe.Herrbach@mail.house.gov

Support the HOME Investment Partnerships Program (HOME)

If you would like to sign on please use this google form.

Deadline: COB Tuesday, March 13th 2018

Deadline to Enter Online Submission: Monday March 19, 2018

Please join me in a letter urging the Transportation, Housing and Urban Development, and Related Agencies (THUD) Appropriations Subcommittee to restore funding for the HOME Investment Partnerships program (HOME) to $1.2 billion
in FY 2018.

For over 20 years, HOME has proven to be one of the most effective, locally driven tools to help states and communities address their most pressing housing challenges.  Overseen by the U.S. Department of Housing and Urban Development
(HUD), HOME is vital to communities working to meet the needs of low-income families and individuals in need of supportive housing, including veterans, persons with disabilities, seniors and persons experiencing homelessness. 

HOME is the only federal housing program exclusively focused on addressing such a wide range of housing activities.  States and local communities use HOME to fund new production where affordable housing is scarce, rehabilitation
where housing quality is a challenge, rental assistance when affordable homes are available, and provide homeownership opportunities when those are most needed.  Moreover, this flexibility means that states and communities can quickly react to changes in their
local housing markets.

Despite this success, funding for the HOME program has been cut in half in recent years from more than $1.8 billion in 2010 to $900 million in 2015.  These cuts have translated into a 60 percent drop in affordable housing units
built or preserved through HOME at a time when recent studies have found that almost half of renter households are cost-burdened and more than a quarter spend more than 50 percent of their income on rent.  In 2016, HOME saw a modest increase in funding to
$950 million, but funding levels are still not robust enough to meet the critical need for affordable housing.  Demand for HOME funds far outstrip supply – on average, HOME grantees are only able to finance one-third of shovel-ready projects intended to help
vulnerable members in their communities.

The housing industry has and will continue to play a major role in our economic recovery. HOME funding needs to be restored to improve our economy and ensure Americans have access to affordable housing.  If
you would like to sign on please use this google form.
 Please contact Félix Muñiz (Felix.Muniz@mail.house.gov) for any questions.

Sincerely,

_________________

Marcia L. Fudge

Member of Congress

 

 

March 19, 2018

 

 

The Honorable Mario Diaz-Balart                             The Honorable David Price Chairman  Ranking Member

Subcommittee on Transportation, Housing,             Subcommittee on Transportation, Housing, Urban Development and Related Agencies                        Urban Development and Related Agencies Committee on Appropriations                                                        
Committee on Appropriations

2358-A Rayburn House Office Building                  1016 Longworth House Office Building Washington, D.C. 20515                                          Washington, D.C. 20515

 

 

Dear Chairman Diaz-Balart and Ranking Member Price:

As you begin work on the Fiscal Year 2019 appropriations process, we respectfully request your consideration of the needs of the millions of low-income households across the United States without access to affordable housing.  Specifically, we ask the Transportation,
Housing and Urban Development, and Related Agencies (THUD) Appropriations Subcommittee to restore HOME Investment Partnerships Program (HOME) funding to at least $1.2 billion for Fiscal Year 2019.

For over 20 years, HOME has proven to be one of the most effective, locally driven tools to help states and communities address their most pressing housing challenges.  Overseen by the U.S. Department of Housing and Urban Development (HUD), HOME is the only
federal block grant program exclusively focused on helping states and communities address their affordable housing needs for low-income households, including veterans, persons with disabilities, seniors and persons experiencing homelessness.  HOME has also
proven critical in gap financing for the Low Income Housing Tax Credit and Rental Assistance Demonstration, and it is often used by communities rebuilding from natural disasters.

HOME can be used for new multi-family rental construction and rehabilitation, homeowner rehabilitation, homebuyer assistance, and tenant-based rental assistance.  States and local communities use HOME to fund new production where affordable housing is scarce,
rehabilitation where housing quality is a challenge, rental assistance when affordable homes are available, and provide homeownership opportunities when those are most needed.  This flexibility means that states and communities can quickly react to changes
in their local housing markets.

HOME funds serve as a critical resource for communities in all 50 states and in every congressional district.  Since 1992, HOME has helped to create over 1.27 million homes and provided rental assistance to over 337,000 families.  The HOME program has a
remarkably successful track record of attracting other sources of public and private capital and leverages $4.32 for every $1 invested in the program.  According to the HOME Coalition’s recent report, this investment has supported an estimated 1.6 million
jobs and generated $105 billion in local income.

Despite this success, funding for the HOME program has been cut in half in recent years from more than $1.8 billion in 2010 to $900 million in 2015.  These cuts have translated into a 60 percent drop in affordable housing units built or preserved through
HOME at a time when recent studies have found that almost half of renter households are cost-burdened and more than a quarter spend more than 50 percent of their income on rent.  In 2016, HOME saw a modest increase in funding to $950 million, but funding levels
are still not robust enough to meet the critical need for affordable housing.  Demand for HOME funds far outstrip supply – on average, HOME grantees are only able to finance one-third of shovel-ready projects intended to help vulnerable members in their communities.

Adequate funding is even more critical this year as we anticipate HOME will be needed to provide additional gap financing in housing credit deals impacted by lower corporate tax rates enacted as part of tax reform, and as states and localities across the
country redirect their HOME funds to respond and rebuild after natural disasters.  Restoring HOME funding to at least $1.2 billion must be part of any effort to address American households’ acute and growing need for affordable housing.

We urge you to restore HOME program funding to at least $1.2 billion in order to promote local economic development, create jobs, and ensure that every American has access to a safe, affordable home.

 

Sincerely,

_________________

Marcia L. Fudge

Member of Congress

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