HUD Releases Sequester Impact Data for HOME Program
HUD recently released an analysis that shows funding levels each participating jurisdiction will receive from the HOME Investment Partnerships (HOME) program under the Senate Committee on Appropriations’ proposed allocation. The Senate Appropriations Committee had recently voted 20 to 10 to pass the Fiscal Year 2016 Transportation, Housing and Urban Development, and Related Agencies funding bill (THUD). The bill effectively eliminates the HOME program. It provides just $66 million – a reduction of 93 percent from HOME’s already record-low FY 2015 funding level of $900 million.
The proposed cut to HOME was necessitated by spending caps dictated by the Budget Control Act of 2011. Some examples of the funding levels participating jurisdictions will receive if HOME is only appropriated $66 million are:
- New York City: $3,717,194 (down from $50,594,954 in FY15)
- Houston: $464,064 (down from $6,316,418 in FY15)
- Los Angeles County: $427,256 (down from $5,815,402 in FY15)
- Baltimore: $222,625 (down from $3,030,159 in FY15)
- St. Louis: $148,352 (down from $2,024,052 in FY15)