NAR joined more than 1,500 national, state and local organizations and municipalities in a letter to Congressional leaders urging increased funding for the HOME Investment Partnerships Program (HOME) program. Using a formula, the Department of Housing and Urban Development (HUD) distributes HOME grants states and local communities to fund a wide range of affordable housing activities. These include downpayment assistance, rental assistance, rehabilitation of affordable housing, and development. The Appropriations Committees in Congress, reacting to lower budgetary thresholds and sequestration, dramatically cut funding for HOME in their respective bills. The Senate bill actually cuts the HOME program by 93% down to $66M from $900 million appropriated in FY15. The bills are still being debated by Congress, and we hope that HOME funding is restored.
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