NACEDA Supports Restoration of Funding
For Flexible and Effective HOME Program

WASHINGTON, DC - May 24, 2007 - NACEDA is showing support for the restoration of HOME Investment Partnerships (HOME) grant funding of at least $2 billion (the FY04 level) by signing onto a letter sent to members of the Subcommittee on Transportation, Housing and Urban Development, and Related Agencies as they prepare to consider the FY08 appropriations bill.

Even in this tight budgetary environment, HOME is one of the best housing investments Congress can make. HOME allows flexibility to states and localities to put resources to their best use and has a proven track record, financing more than 1 million affordable homes. Despite this success, funding was cut 7.5% in FY06 and 5.3% in FY05 and the FY07 continuing resolution froze funds at the FY06 level of $1.69 billion, its lowest since FY00. If adjusting for inflation, HOME program would require $2.4 billion just to remain level.

Please click here to see the full letter and list of co-signers.