Status: Closed
Type
Capital, Operating
Source
Federal
Procurement Agency
Local Government
Summary
HOME provides funding for both for capital and operating funds for supportive housing projects. Other local uses include first time home buyers assistance, rehabilition costs for low-income homeowners and modular home programs.
Tenant Eligibility Criteria
Low-income individuals and families, defined as households at or below 80% of area median income (AMI). HOME rental projects must primarily serve households with incomes at or below 60% of AMI. All subpopulations may be served with HOME funding.
Eligible Applicants
Nonprofit and for-profit developers of supportive and affordable housing.
Amount
Grants vary in amount. Across New York State, 28 participating jurisdictions receive direct federal HOME allocations.
Rental assistance must fall within Fair Market Rent (FMR) guidelines.
Term
Capital grant terms will vary by location and project. Rental assistance may be for short- or medium-term (up to 18 months) as a bridge to longer term rental assistance (i.e. Section 8 Housing Choice Vouchers).
Network Notes
- HOME provides U.S. Department of Housing and Urban Development (HUD) formula grants to states and localities, which communities can use in partnerships with local nonprofit groups. These partnerships fund a wide range of activities that build, buy or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people.
- New York State Homes and Community Renewal (HCR) administers the state's HOME allocation, which covers all non-entitlement areas.
- Localities may use HOME funds in a flexible way, which means that competition for these funds is often intense.
- In addition to applying for State HOME funds, developers are encouraged to approach their local governments early in the development process to urge them to allocate a share of local HOME funds for their supportive housing project.
- The tenant-based rental subsidy is a valuable resource for operating supportive housing programs, particularly at a time where mainstream Section 8 rental subsidies are not readily available, and can be a bridge until Section 8 becomes available.
For More Information
NYS HCR provides additional information on utilizing these funds.
Contact
Contact your local Community Development Office in entitlement areas.
Last updated: 08/16/2021