This article was created by AI using a video recording of the meeting. It summarizes the key points discussed, but for full details and context, please refer to the video of the full meeting.
Link to Full Meeting
On July 17, 2025, the U.S. House Committee on Financial Services convened to discuss the pressing issue of housing shortages in the country, focusing on the HOME Investment Partnerships Program. This program is crucial for funding affordable housing initiatives across the nation. The meeting featured testimonies from key stakeholders in the housing sector, including state housing leaders and representatives from nonprofit organizations.
Lisonbee George, the director of the Colorado Division of Housing, highlighted the significant impact of HOME funding in Colorado, where over $16 million was allocated in fiscal year 2025 alone. This funding has facilitated the construction of affordable homes, such as the Harvest Hill project in Broomfield, which will provide 152 homes for families earning between 30% to 70% of the area median income. George emphasized the importance of HOME as a foundational funding source that supports local housing projects and urged the committee to modernize the program to enhance its efficiency and effectiveness.
Eric Oberdorfer, representing the National Association of Housing and Redevelopment Officials, echoed these sentiments, stressing that the HOME program has been instrumental in creating and preserving over 1.4 million homes since its inception. He pointed out that while the program is vital, certain regulatory requirements, such as the Davis-Bacon Act and environmental reviews, complicate project execution and increase costs. Oberdorfer recommended raising the threshold for these regulations to alleviate burdens on smaller projects.
Ellen Woodward Potts from Habitat for Humanity shared her organization’s experiences, noting the critical role of HOME funding in enabling low-income families to achieve homeownership. She called for consistent availability of HOME funds for homeownership activities and suggested regulatory reforms to streamline the process, particularly regarding environmental reviews and compliance burdens.
Tiffany Bohe, president of Mercy Housing California, provided insights into how her organization has leveraged HOME funds to develop affordable housing across various states. She underscored the necessity of HOME as gap funding that makes affordable housing projects feasible, particularly in high-cost urban areas. Bohe advocated for reforms that would streamline the integration of HOME funding with other financial resources to expedite housing development.
The discussions underscored a collective concern regarding proposed cuts to HOME funding, which stakeholders believe would severely hinder efforts to address the housing crisis. The committee members expressed their commitment to modernizing the HOME program, recognizing its essential role in expanding affordable housing opportunities.
In conclusion, the meeting highlighted the urgent need for legislative action to strengthen the HOME Investment Partnerships Program. Stakeholders are advocating for reforms that would streamline processes, increase funding, and ultimately enhance the program's capacity to meet the growing demand for affordable housing across the United States. As the committee moves forward, the focus will remain on ensuring that housing remains a priority in federal funding discussions.
Converted from HOME 2.0: Modern Solutions to the Housing Shortage (EventID=118476) meeting on July 17, 2025
Link to Full Meeting