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   The HOME Investment Partnership Act (HOME)
 The HOME Investment Partnership Act (HOME)The HOME Investment Partnership Act program (HOME) enables the City to provide more affordable housing to low-income persons. HOME funds may only be used for housing activities such as acquisition, rehabilitation, new construction of housing, and tenant-based rental assistance. The required HOME match requires the use of non-federal resources. The City currently receives $1.2 million in HOME funds. The HOME program provides federal funds to state and local governments to carry out multi-year housing strategies through acquisition, rehabilitation, and new construction of housing units in addition to tenant-based assistance. HOME is the largest federal block grant to state and local governments designed exclusively to create affordable housing for low-income households. The purpose of the HOME program is to expand the supply of decent, safe, sanitary and affordable housing for citizens comprising the lowest income earning households. The City of Chattanooga makes HOME funds available for any HOME eligible activities which assists the City in addressing the housing needs outlined in the 2005 – 2010 Consolidated Plan. Funded programming includes: tenant based rental assistance, homeownership, homeowner rehabilitation projects and acquisition, rehabilitation and/or new construction of rental housing projects. The HOME Program requires that match be provided in an amount equal to no less than 25 percent of the total HOME funds drawn down for project costs. The match obligation may be met with any of the following specific sources:
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