Welcome
to the HOME Match Web Page
All
participating jurisdictions (PJs) must contribute or match 25 cents
for each dollar of HOME funds spent on affordable housing. As PJs
draw funds from HOME Investment Trust Funds, they incur a match
liability, which must be satisfied by the end of each Federal fiscal
year. The matching contribution adds to the resources available
for HOME-assisted or HOME-eligible projects.
The
HOME statute provides for a reduction of the matching contribution
requirement under three conditions:
- fiscal
distress,
- severe
fiscal distress, and
- for
Presidentially-declared major disasters covered under the Stafford
Act.
Here's
more information about HOME match and match reductions:
CPD
Match Reductions Notice
Untitled Document
CPD Notice 2007-05, Issued July
11,2007
HOME Program - Match Reductions for Fiscal and Severe Fiscal Distress and for
Major Presidentially-Declared Disasters under the Stafford Act
PDF
| WORD
(This Notice supersedes CPD
Notice 04-06)
Match Reductions for FY 2008
- List
of FY 2008 Match Reductions
The list includes match reductions granted for FY 2008 due to fiscal distress, severe fiscal distress, and Presidential disaster declarations. For those PJs with both fiscal distress and Presidential disaster match reductions, the PJ may take the higher match reduction for the current fiscal year. Note: Since match reductions due to major Presidential disaster declarations are requested by PJs and granted by field offices at any time during the fiscal year, this list will be updated as needed.
Local
Jurisdictions
When a local jurisdiction meets one of the distress criteria, it
is determined to be in fiscal distress and receives a 50 percent
reduction of match. If a local jurisdiction satisfies both of the
distress criteria, it is determined to be in severe fiscal distress
and receives a 100 percent reduction of match.
- FY
2008 Calculations
- FY
2008 family poverty rate and per capita income (PCI) income
were based on data obtained from the 2000 Census. These were
the latest data available at the time.
-
For a jurisdiction to qualify as distressed based on the poverty
criterion, its percent of families in poverty must have been
at least 11.5 percent, which is 125 percent of the average
national rate for families in poverty of 9.2 percent.
-
For a jurisdiction to qualify as distressed based on the PCI
criterion, its average PCI must have been less than $16,190,
which is 75 percent of the average PCI of $21,587.
State
Jurisdictions
For a state to qualify under the personal income growth rate criterion,
the state's rate must be less than 75 percent of the average national
personal income growth rate during the most recent four quarters.
- FY
2008 Calculations
- The
FY 2008 personal growth rate was based on data received from
the Department of Commerce, Bureau of Economic Analysis, from
the beginning of the third quarter of 2005 to the end of the
second quarter of 2006. These were the latest data available
at the time.
- For
a state to qualify as distressed based on the personal income
growth rate, the state per capital income growth rate must
have been less than 4.8, which is 75 percent of the average
national personal income growth rate of 6.4.
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