A new national report, “Building HOME: The HOME Investment Partnership Program’s Impact on America’s Families and Communities” highlights the significance of the HOME Investment Partnerships (HOME) program in Missouri’s most vulnerable communities. The first-of–its-kind report analyzes the economic impact of the HOME program in Missouri and the consequences of cutting funds to such an important resource for local communities.
HOME is the only federal housing program exclusively focused on providing states and communities with critical funding to address their most pressing affordable housing needs.The program provides assistance to residents with the greatest challenges including seniors, individuals with disabilities, families with children, veterans, as well as individuals experiencing homelessness. Habitat for Humanity Saint Louis has used HOME funds for many years to build affordable, decent, and safe housing for hard working partner families.
According to Building HOME, since 1992, HOME has built or preserved 23,950 affordable homes in Missouri and has provided direct assistance to 4,472 families at risk of homelessness. It has attracted $2.62 billion in total statewide investments, supporting 25,202 jobs and generating $1.84 billion in local income.
Despite its success, Congress is proposing to deeply cut and even essentially eliminate the program. The Senate proposed to cut HOME funding from $900 million to just $66 million, which would effectively eliminate the program. In Missouri, funding would be cut by 93%, from $16+ million to $1.2 million.
If the Senate bill is enacted, Missouri will lose a critical tool to combat the affordable housing crisis. It’s time for Congress to lift the damaging spending caps, and make smart investments in locally driven and effective federal housing programs, like HOME.
What can you do to help?
- Sign a letter to congress.
- Educate yourself on the HOME Investment Partnerships program.
- Share social media posts about the importance of the program. Find us on Facebook and Twitter.
- Read a HOME success story from Habitat for Humanity Saint Louis. Adam and Habiba were able to purchase their home with the help of HOME funds.