NYS HOME Program

The New York State HOME Program is administered by the New York State Housing Trust Fund Corporation (HTFC) and uses HOME 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 federal requirements.

Eligible Applicants

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. 

Eligible Areas

All areas of the State are eligible.

Income Eligibility

HOME Program funds may only be used to assist households with incomes at or below 80 percent of area median income. Rental projects must primarily serve households with incomes at or below 60 percent of area median income and must remain affordable for a period of between five and 20 years, depending on the initial amount of subsidy provided for the project.

Funding Limitations

HOME Program funds may be used to pay for acquisition, rehabilitation, construction, and certain related soft costs of residential housing. All HOME-assisted units must meet NYS code at completion.  Most HOME-assisted activities are subject to a Period of Affordability (POA) dependent upon the HOME funds invested.  Funds may also be used for relocation costs, tenant-based rental assistance, down payment and closing costs, and some administrative and planning costs. Fifteen percent of each HOME allocation to NYS must be reserved for qualified community housing development organizations (CHDO).  HOME funds are subject to limitations set forth in the federal regulations 24 CFR Part 92.