The New York State HOME Program is administered by the New York State Housing Trust Fund Corporation (HTFC) and uses federally allocated HOME Investment Partnership Program funds to expand the supply of decent, safe, and affordable housing within the State.
The NYS HOME Program funds a variety of activities to acquire, rehabilitate, or construct affordable housing, or to provide assistance to low-income home-buyers or renters through partnerships with counties, towns, cities, villages, private developers, and community-based non-profit housing organizations. Funds are distributed in accordance with the State's Consolidated Plan and are federally regulated through 24 CFR Part 92 which set forth all requirements for HOME such as formula allocations, eligible activities, matching funds, qualifications as affordable housing, community housing development organizations (CHDOs) certification, and compliance with other
Units of local government, not-for-profit corporations, Public Housing Authorities, for-profit or non-profit developers, or Community Housing Development Organizations (CHDO) that can demonstrate the capacity to develop and operate a qualifying program or project, show local market need, and has been in existence providing recent and relevant residential housing services to the community for at least one year prior to application may be eligible to apply for HOME funding either as a direct recipient or local program administrator. Jurisdictions that receive HOME program funding directly from the federal government are generally eligible but may be required to contribute their own HOME resources to the program or project.
All areas of the State are eligible.
HOME Program funds in general may be used to assist households with incomes at or below 80 percent of area median income. Rental projects must serve households with incomes at or below 60 percent of the area median income. All HOME projects must remain affordable for a period of between 5 to 20 years depending on the activity and amount of HOME funds invested.
HOME Program funds may be used to pay for acquisition, rehabilitation, and/or construction, including programs detailed below for homeowner rehabilitation, homebuyer down payment assistance, manufactured home replacement, and tenant-based rental assistance. Certain related soft costs and administrative and planning costs can also be paid with HOME funds. All HOME-assisted units must meet the NYS code at completion. Most HOME activities are subject to a Period of Affordability (POA) dependent upon the HOME funds invested and the activity performed. Fifteen percent of each HOME allocation to NYS must be reserved for qualified community housing development organizations (CHDO). HOME funds are subject to the federal regulations set forth in 24 CFR Part 92.
HTFC may, at its sole discretion, directly fund eligible HOME activities that demonstrate need and viability. Eligible partners may submit a project summary and preliminary budget to [email protected] for consideration. Requests must explain why the proposal cannot be served by current HOME activities or funding rounds being offered in addition to demonstrating HOME eligibility, need, and timing/schedule.
Questions about the HOME Program can be submitted to the HOME mailbox [email protected]
