The Fiscal Year 2016 Transportation, Housing and Urban Development, and Related Agencies (THUD) Subcommittee has proposed critical markups to the Year 2016 Appropriations Bill. One of the most dramatic funding cuts all but eliminates the HOME Investment Partnerships Program (HOME) program, a highly utilized, flexible, and dependable block grant program that funds affordable housing rehabilitation, building, and homeownership from the state level to the low-income individual. HOME directs its support to rural, suburban, and urban communities all over the country, and assists many of the lowest income individuals.
The FY 2016 bill reduces the HOME program from $900 million to $66 million – a staggering reduction of 93%, or $834 million. This lack of financial infrastructure is estimated to result in the loss of production of 40,000 affordable housing units. The Appropriations Subcommittee is holding a markup meeting this morning during which amendments to HOME’s funding cuts may be offered. In the interest of ensuring that this news obtains as much exposure as possible, we are reposting Enterprise’s post. Please consider taking action to ensure the survival of the HOME program.
