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HUD No. 24-114
HUD Public Affairs
(202) 708-0685 FOR RELEASE
Wednesday
May 15, 2024


HUD MODERNIZES COUNTRY'S LARGEST AFFORDABLE HOUSING GRANT PROGRAM, MAKING
HOUSING MORE ACCESSIBLE FOR FAMILIES NATIONWIDE

The Notice of Proposed Rulemaking for HUD’s HOME Investment Partnerships Program
would boost housing supply, support homeownership, and reduce burden on states
and local governments.

 

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD)
published a preview of a Notice of Proposed Rulemaking to modernize regulations
for the HOME Investment Partnership Program (HOME), with publication in the
Federal Register to follow later this month. The proposed rule would streamline
program requirements for states and localities, better align HOME funding with
other federal housing resources, reduce administrative burden for communities
and housing developers, improve assistance and protections for renters,
strengthen the use of HOME for homeownership activities, and encourage green and
climate resilient building practices. The HOME program is a critical tool to
bolster housing supply and preserve existing affordable housing at a time of
dire need. Through HOME funding, HUD advances the Biden Administration’s goal of
building 2 million units of housing.  

The Biden-Harris Administration’s Housing Supply Action Plan committed to
modernizing and streamlining the HOME program. HOME is the largest Federal block
grant to state and local governments for the creation of affordable housing for
low-income households. Under the HOME program, states, localities, and
territories receive flexible block grants to provide down payment assistance and
closing costs; build new housing to own or rent; rehabilitate existing housing;
and on a limited basis, provide tenant based rental assistance. HUD recently
announced $1.3 billion for fiscal year 2024 to over 650 participating
jurisdictions. This notice of proposed rulemaking is the first significant
update to the regulations governing the HOME program in over a decade.

“For more than 30 years, the HOME program has been used to build affordable
housing for homeowners and renters and to provide rental assistance that has
played a critical role in advancing housing opportunities for low-income
families across the country,” said Acting Secretary Adrianne Todman. “The
proposed rule is a significant step in improving the HOME program, reducing
redundant administrative requirements, and expanding access to affordable
housing nationwide.”

These updates would improve the ability of participating jurisdictions who
receive HOME to implement funding more effectively and efficiently – making it
easier for States and localities to use HOME to support low-income renters,
homeowners, and homebuyers.

Additionally, if finalized , the proposed rule would simplify requirements for
homeownership activities. The update addresses common challenges in homebuyer
activities by extending sales deadlines for HOME-assisted units, adding
flexibility for resale provisions, and allowing for rehabilitation of
HOME-assisted properties after acquisition.

The proposed rule also advances the Biden-Harris Administration’s efforts to
strengthen renter protections, including through its Blueprint for a Renters
Bill of Rights and acceptable industry standards. The proposed changes to HOME
tenant-based rental assistance would support low-income renters by creating a
mandatory lease addendum with enhanced tenant protections, better define ‘good
cause’ in the HOME program and reduce burdensome paperwork for tenants.

Principal Deputy Assistant Secretary for Community Planning and Development
Marion McFadden added: “For years, stakeholders, elected officials, and grantees
have asked ‘How can we make HOME funding easier to use?’ We meticulously
evaluated how we could modernize and improve the program. This proposed rule
would strengthen the program – benefiting families of modest means, small
property owners, nonprofit organizations, and communities for years to come.”

The update would also expand opportunities for nonprofit organizations and
developers who use HOME funding to create and retain renter or homeowner
activities in their neighborhoods, such as revised requirements for community
housing development organizations and community land trusts. Further supporting
housing investments, the proposed rule also simplifies requirements for
small-scale rental housing projects and better aligns HOME with Low Income
Housing Tax Credits. It would also provide incentives for green building and
energy efficiency standards, which could result in lower utility and insurance
costs for homeowners.

If finalized, this proposed rule would reduce administrative burden by aligning
utility allowances with other HUD programs, aligning inspection requirements
with NSPIRE, reducing the frequency of income determination certification, and
eliminating arduous waiting list requirements for small properties.

HUD seeks public comment on this proposed rule and invites all interested
parties and members of the public to submit their views, comments, and
recommendations for improvement for this proposal. Comments may be submitted
electronically through www.regulations.gov, or through the methods described in
the proposed rule.

HOME is a formula grant program which provides funding to all fifty states and
over 650 localities – exclusively benefiting low-income households. Further
information regarding HOME, click here.

For the full proposed rule text find HUD's preview of the Notice of Proposed
Rulemaking on the HOME Investment Partnership Program here. The Notice of
Proposed Rulemaking will soon be published in the Federal Register. Comments
will be due no later than 60 days after publication.

###

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quality affordable homes for all.
More information about HUD and its programs is available at www.hud.gov and
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