HOME provides formula grants to states and localities that communities use - often in partnership with local nonprofit groups - to fund a wide range of activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership or providing direct rental assistance to low-income people. It is the largest Federal block grant to state and local governments designed exclusively to create affordable housing for low-income households.
The program was designed to reinforce several important values and principles of community development:
- HOME's flexibility empowers people and communities to design and implement strategies tailored to their own needs and priorities.
- HOME's emphasis on consolidated planning expands and strengthens partnerships among all levels of government and the private sector in the development of affordable housing.
- HOME's technical assistance activities and set-aside for qualified community-based nonprofit housing groups builds the capacity of these partners.
- HOME's requirement that Participating Jurisdictions (PJs) match 25 cents of every dollar in program funds mobilizes community resources in support of affordable housing.
The City of San José currently dedicates HOME funds for the development of new affordable housing projects, Tenant-Based Rental Assistance (TBRA), and acquisition and rehabilitation of single-family homes (in collaboration with Habitat for Humanity).
Please refer to the HUD Exchange Website for eligible activities and other program areas under HOME.
Low-income Affordable Rental Housing Developments
HOME funds are used for the development of large-scale, low-income rental housing projects. Below is a list of low-income housing projects that have benefited from the use of HOME funds in their development. Please see the List of Affordable Housing Developments for a complete list of all affordable projects in the City of San José.
|Development Name||Address||Zip Code||HOME Funds||Year Funded|
|Donner Lofts (UC)||SE corner of N.4thand E. St. John Streets||95113||$5,500,000||2013|
|Japantown Senior Apartments (UC)||675 N. 6thStreet||95112||$4,956,481||2013|
|Archer Studies||98 Archer Street||95112||$1,800,000||2009|
|BillWilsonCenter||3661 Peacock Ct.||95051||$1,917,445||2008|
|CanoasTerrace||420 Sands Drive||95125||$2,525,000||1996|
|Curtner Studios||701 Curtner Avenue||95125||$4,547,417||2007|
|Edenvale Special Needs||5340 Monterey Road||95111||$1,275,000||2003|
|Kings Crossing||686 North King Road||95133||$5,250,700||2006|
|MarkhamPlazaI||2000 Monterey Road||95112||$2,751,219|
|MarkhamPlaza II||2010 Monterey Road||95112||$2,559,289|
|North Fourth StreetApartments||1460 North 4thStreet||95112||$3,000,000||2010|
|Plaza del Sol||1380 Blossom Hill Road||95118||$2,000,000||1995|
|Timberwood Apartments||3903Seven Trees Blvd||95111||$809,855||1994|
|Tully Gardens SRO (Phase 1)||2030 Monterey Road||95112||$2,559,294||2001|
|Tully Gardens SRO (Phase 2)||2150 Monterey Road||95112||$2,559,289||2003|
|Verandas||1868 North Capital Avenue||95132||$2,925,000||1996|
|WillowGlen Senior Apartments||465 Willow Glen Way||95112||$6,759,000||2000|
|(UC) – Under Construction|
Tenant Based Rental Assistance (TBRA) Program
HOME permits Participating Jurisdictions (PJs) to create flexible programs that provide assistance to individual households to help them afford the housing costs of market-rate units. TBRA programs differ from other types of HOME rental housing activities in three ways:
- TBRA helps individual households, rather than subsidizing particular rental projects.
- TBRA assistance moves with the tenant – if the household no longer wishes to rent a particular unit, the household may take its TBRA and move to another rental property.
- The level of TBRA subsidy varies – the level of subsidy is based upon the income of the household, the particular unit the household selects, and the PJ’s Rent Standard.
The City’s TBRA program assists targeted homeless households specified in the City’s Annual Action Plan. The City also works collaboratively with several agencies which provide case management services for the program’s participants. Clients pay 30% of their income (or a $20/month minimum; whichever is more) towards their total housing costs, and TBRA subsidizes the rest. It is a two year program which can be extended should funds be made available. For more information on Tenant-Based Rental Assistance, see 24 CFR 92.209.