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House subcommittee hears bipartisan case to modernize HUD HOME program as funding faces cuts
Summary
Witnesses and subcommittee leaders urged reauthorization and modernization of HUD's HOME Investment Partnerships Program, pointing to administrative burdens that slow projects and warning that proposed federal cuts would undercut affordable housing production.
House Financial Services Subcommittee on Housing and Insurance members convened a hearing to review a discussion draft titled the Home Reform Act and hear testimony on modernizing the U.S. Department of Housing and Urban Development's HOME Investment Partnerships Program. Chairman Flood opened the hearing and said the panel would focus on “modern solutions to the housing shortage,” and Ranking Member Cleaver emphasized bipartisan work to update a program last authorized in 1992.
The HOME program provides block-grant gap financing used with other tools such as the Low-Income Housing Tax Credit to build and rehabilitate affordable housing. Witnesses representing state housing agencies, public housing authorities, Habitat affiliates and nonprofit developers urged streamlining rules that they said delay…
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