Adrianne Todman, Deputy Secretary | https://www.hud.gov/leadership#sec
The U.S. Department of Housing and Urban Development (HUD) has unveiled a Notice of Proposed Rulemaking aimed at modernizing regulations for the HOME Investment Partnership Program (HOME). The proposed rule, which is expected to be published in the Federal Register later this month, seeks to streamline program requirements, align HOME funding with other federal housing resources, reduce administrative burdens, improve assistance for renters, and encourage green building practices.
HOME is the largest Federal block grant provided to state and local governments for creating affordable housing for low-income households. The Biden-Harris Administration's Housing Supply Action Plan has committed to modernizing and streamlining the HOME program. This initiative forms part of the administration's goal of constructing 2 million units of housing.
Acting Secretary Adrianne Todman said: “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.” She further added that "the proposed rule is a significant step in improving the HOME program, reducing redundant administrative requirements, and expanding access to affordable housing nationwide.”
The proposed updates are designed to enhance participating jurisdictions' ability to implement funding more effectively. If finalized, these changes would simplify requirements for homeownership activities and strengthen renter protections in line with the Biden-Harris Administration’s Blueprint for a Renters Bill of Rights.
Principal Deputy Assistant Secretary for Community Planning and Development Marion McFadden said: “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 proposed rule also aims to expand opportunities for nonprofit organizations and developers who use HOME funding. It simplifies requirements for small-scale rental housing projects and aligns HOME with Low Income Housing Tax Credits. It also incentivizes green building and energy efficiency standards, which could result in lower utility and insurance costs for homeowners.
HUD is inviting public comment on this proposed rule. Interested parties can submit their views, comments, and recommendations for improvement electronically through www.regulations.gov or via the methods described in the proposed rule.