HOME Investment Partnership Program (HOME)
The HOME Investment Partnership program (HOME) was created under the National Affordable Housing Act of 1990 and became available in 1992. The purpose of HOME funds is to expand the supply of affordable housing for low to very low-income families and individuals.
HOME funds give Bexar County the flexibility to undertake a board range of affordable housing activities. HOME funds may be used to:
- Construct new housing for rent or home ownership
- Rehabilitate rental or owner-occupied housing
- Improve sites for HOME-assisted development
At least 90% of HOME funds used for rental housing must be invested in units that are occupied by families earning no more than 60% of the area median income, with the remaining families earning no more than 80% of the median income. The rents in HOME-assisted units must be affordable to low-income families during a period designated by HOME regulations. Homeowners assisted with HOME funds must have income at or below 80% of the area median income.
The HOME Program requires applicants to leverage their own resources through a required match of 25 cents for each dollar of HOME funds spent on affordable housing. As a rule of thumb, investments from State, local government or private sector qualify as matching contributions, whereas Federal funds do not qualify.
HOME also helps foster the growth and capacity of local nonprofits by requiring that 15% of the County HOME allocation to be a set-aside to fund housing that will be owned, developed or sponsored by a housing partner designated as Community Housing Development Organization. A designated CHDO is a private, nonprofit organized under State law, accountable to the community they serve, and committed to and experienced in providing decent and affordable housing for low-income people.
Apply for Funding
On an annual basis, Bexar County releases a Notice of Funding Availability (NOFA) for use of the grant funds. These funds are available to eligible non-profit organizations and local participating cities to assist the County in its mission to provide services to low income residents. These services could be in the form of social and homeless services, affordable housing opportunities, or capital improvement projects.