HOME Proposed Rule Preview Released
By: Steven Molinari, Policy Analyst
On May 15, 2024, HUD released a preview of the HOME Investment Partnerships Program (HOME) program proposed rule. The proposed rule would revise the current HOME regulations to better align the program with other Federal housing programs and implement recent amendments to the HOME statute. It also includes minor revisions to the regulations for
the Community Development Block Grant (CDBG) and Section 8 Housing Choice Voucher (HCV) programs.
The proposed rule seeks to make updates and simplifications to the HOME program by:
- Expanding access to Community Housing Development Organization (CHDO) set-aside funds by neighborhood-based nonprofit organizations;
- Clarifying homeownership requirements;
- Aligning HOME rental housing with other federal rental assistance programs;
- Simplifying requirements applicable to small rental housing projects (one to four total units such as, ADUs or HOME-assisted homebuyers purchasing duplexes or triplexes);
- Enhancing flexibility for the HOME tenant-based rental assistance (TBRA) program;
- Strengthening tenant rights and protections for occupants of HOME-assisted rental units and recipients of HOME TBRA;
- Establishing a new method for determining maximum per-unit subsidy limits; and
- Providing incentives to incorporate green building technologies
Comments to the proposed rule are due 60 days from the published date in the Federal Register. The proposed rule should be officially published in the Federal Register very soon.
For the full notice, please see here.
NAHRO will provide an in-depth analysis of the proposed rule in our Direct News by next week.