HUD Publishes HOME Final Rule
(Jan. 14, 2025) On Jan. 6th, the U.S. Department of Housing and Urban Development (HUD) published a final rule for the HOME Investment Partnerships Program. The HOME program provides grants to states and localities to support affordable housing initiatives; the funding is used by many LeadingAge members who are developing new housing that is affordable to older adults with low incomes.
The long-awaited rule spans more than 500 pages and makes key changes to enhance tenant protections, update property standards, adjust required periods of affordability, revise roles for Community Housing Development Organizations, implement environmental and safety hazard notification requirements, and more. Notably, an initial proposal by HUD to extend eviction notification timeframes to 60 days was withdrawn to maintain consistency with other HUD programs, which require a 30-day notification timeframe prior to termination of tenancy.
LeadingAge welcomes the HOME final rule and applauds HUD for finalizing their years-long process to enhance and streamline HOME requirements. View LeadingAge’s comments to HUD on the agency’s HOME proposed rule from 2024, submitted in July as part of the Preservation Working Group (PWG). See HUD’s final rule, which is effective Feb. 5, 2025, here.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866