HOME Program

HOME Program is sponsored by City of Yonkers, NY. Allocates funds to build, buy, and rehabilitate affordable housing for low-income individuals in Yonkers.

U.S. Department of Housing & Urban Development's HOME Program Summary HOME is authorized under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended. Program regulations are at 24 CFR Part 92. The HOME program final rule is available electronically.

HOME provides formula grants to States and localities that communities use - often in partnership with local nonprofit groups - to fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people.

HOME is the largest Federal block grant to State and local governments designed exclusively to create affordable housing for low-income households. Each year it allocates approximately $2 billion among the States and hundreds of localities nationwide.

The program was designed to reinforce several important values and principles of community development: HOME's flexibility empowers people and communities to design and implement strategies tailored to their own needs and priorities. HOME's emphasis on consolidated planning expands and strengthens partnerships among all levels of government and the private sector in the development of affordable housing.

HOME's technical assistance activities and set-aside for qualified community-based nonprofit housing groups build the capacity of these partners. HOME's requirement that participating jurisdictions (PJs) match 25 cents of every dollar in program funds mobilizes community resources in support of affordable housing. Conversion - Conversion of any existing structure from an alternative use to affordable housing.

If the project involves new walls beyond the existing structure, the project is new construction. Reconstruction - Building a new structure on the foundation of a previous structure.

New Construction - Includes newly built projects; existing projects that involve the addition of new units outside the existing walls of the structure; and units that received their initial certificate of occupancy within the one year prior to the commitment of HOME funds. Acquisition of Property - It is the City's policy to only pay acquisition costs for non-profit agencies.

The City will reimburse private developers of Low-Income Housing Tax Credit projects for their acquisition costs in accordance with the following schedule: 90% of the City funds may be released when the project is 50% complete; the balance of the funds will be released upon the issuance of Certificates of Occupancy by the local municipality. Relocation Costs - Any occupied property must include the costs of relocation.

Acquisition of vacant land - HOME funds can only be used when HOME or other funds have been committed for the full cost of development. It is the City's policy to only pay acquisition costs for non-profit agencies. Site Improvements - Must be "in keeping with improvements to surrounding standard projects."

Demolition - HOME funds can only be used when HOME or other funds have been committed for the full cost of reconstruction. It is the City's policy to only pay demolition costs for non-profit agencies. HOME Request for Funding Application (PDF) Government Websites by CivicPlus®