Since the HOME Program was signed into law in 1990, almost 400,000 affordable housing units have been acquired, constructed or rehabilitated and nearly 72,000 tenants have received direct rental assistance. The HOME Program was enacted and designed specifically to expand the supply of decent, affordable housing for low and very low-income families by providing grants to States and local governments (referred to as Participating Jurisdictions or "PJs").
PJs may use HOME funds to help renters, new homebuyers or existing homeowners. A portion of the PJ's HOME funds must be set aside for use by special non-profits called Community Housing Development Organizations (CHDOs). The funds must be used by the CHDOs to develop, sponsor or own housing.
In 2003, Congress added another component, the American Dream Downpayment Initiative (ADDI), to the HOME Program. ADDI provides States and localities additional funds to assist first-time homebuyers with downpayments, closing costs, and rehabilitation carried out in conjunction with a home purchase.
