Since it began in 1992, the HOME Investment Partnership Program (HOME) has helped over 1 million families gain access to affordable housing. Through the program, state and local governments are awarded grants that can then be used to buy, build, or rehabilitate housing for low-income residents. The funding is often used in conjunction with private-sector money to fully leverage every federal dollar. For the last two years, HUD has been reviewing HOME’s compliance rules, and now it is suggesting some changes.
When HUD presented its suggestions to Congress last week, four changes were proposed:
In addition to the regulatory changes, HUD also intends to improve its Integrated Disbursement and Information System (IDIS), which is the system HUD uses to track HOME fund disbursement and the progress of HOME-funded projects.
Though specifics of the proposed changes have not yet been released, HUD is expected to publish them in the Federal Register this week. Click here for more info.
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