The HOME Investment Partnership Program is a federal housing program which allocates funds by formula directly to state and local governments to undertake affordable housing projects consistent with an approved Consolidated Plan. The HOME Program has several purposes:
- To expand the supply of decent and affordable housing for low and very low-income households.
- To strengthen the abilities of state and local governments and non-profit organizations to design and implement strategies for providing decent, affordable housing.
- To create and strengthen partnerships among all levels of government and the private sector, including for-profit and non-profit organizations to produce and manage affordable housing.
To achieve these purposes, HOME funds may be used for a wide variety of activities to develop and support affordable housing programs. This includes rehabilitation of existing housing, construction of new housing, assistance to tenants, and assistance to homebuyers and homeowners.
A public hearing is held each spring at which time the City Council adopts the HOME budget for the allocation year. It is the responsibility of the Housing Division to oversee the administration of the program funds. Ninety percent (90%) of the City's annual allocation is dedicated to the development of affordable housing opportunities and programs benefiting Escondido's lower-income households. Notice of the availability of HOME funds dedicated to Housing Development is periodically released through the City's Request for Proposals (RFP) process.
DURING PRIOR HOUSING ELEMENT / FY 1991-1998
- In March of 1993, Escondido was awarded $1,000,000 from Fiscal Year 1992-93 HOME program funds from the California Department of Housing and Community Development. The funding was used for the acquisition and rehabilitation of an 8-unit rental project, a tenant-based rental assistance program administered by the San Diego County Housing Authority, and acquisition and rehabilitation of a 16-unit multi-family building that was reopened as a limited-equity cooperative.
- In December of 1993, the City was awarded Fiscal Year 1993-94 HOME program funds in the amount of $997,500 from the California Department of Housing and Community Development. The funding was used for the construction of a 32-unit limited-equity cooperative, and the acquisition and rehabilitation of six single-family homes for low-income first-time homebuyers.
- The City of Escondido was officially designated a "Participating Jurisdiction" (PJ) in the HOME Program as of March 1994. PJ status entitles the City to an allocation of HOME funds directly from the U.S. Department of Housing and Urban Development (HUD) on an annual basis. For Fiscal Year 1994-95, the City received an allocation of $520,000 in HOME funds from HUD. The FY 1994-95 funds were allocated to San Diego County SER/Jobs for Progress to construct the 11th Avenue Townhomes, a sixteen-unit rental housing project restricted to occupancy by households earning 60% or less of the area median income. The development was opened for occupancy in April 1999.
- The City received an allocation of $567,000 in FY 1995-96 HOME funds. That funding was allocated to Community Housing of North County for the construction of the Eucalyptus View project, a 24-unit limited-equity cooperative with a childcare center.
- The City also received $532,000 in Fiscal Year 1995-96 HOME funds from the State of California. These funds were awarded to the City under the State's "Real Estate Owned" (REO) model program. REO funds were used for costs associated with the acquisition and rehabilitation of a 61-unit multi-family rental property known as Sonoma Court that had been foreclosed upon by a private lender. The project was opened for occupancy in fall 1998.
- For Fiscal Year 1996-97, the City received an allocation of $598,000 in HOME funds which was designated to fund the City's Homebuyer Entry Loan Program (HELP) to assist low-income first-time homebuyers with down payment and closing costs. During Fiscal Year 1996-97, 62 HELP loans were made from HOME program funds. The remaining funds were carried over to Fiscal Year 1997-98.
- For Fiscal Year 1997-98 the City received an allocation of $583,000 in HOME funds. A portion of the Fiscal Year 1997-98 allocation was committed to the Sonoma Court REO project. The remainder of the funds were allocated to a Rental Rehabilitation Pilot Program and the City's Homebuyer Entry Loan Program. During Fiscal Year 1997-98, 136 HELP loans were made to first-time homebuyers.
- The City's Fiscal Year 1998-99 HOME allocation totaled $625,000. Those funds were allocated to the Homebuyer Entry Loan Program and the Rental Rehabilitation Pilot Program. During Fiscal Year 1998-99, 115 HELP loans were made.
NEW HOUSING ELEMENT / FY 1999-2004
- For Fiscal Year 1999-2000, the City received an allocation totaling $670,000. The City Council allocated the available funds to the Homebuyer Entry Loan Program and 115 HELP loans were issued.
- For Fiscal Year 2000-2001, the City received an allocation totaling $674,000. All of the available HOME funding was allocated to the HELP Program and 112 HELP loans were issued.
- For Fiscal Year 2001-2002, the City received an allocation of $747,000. Consistent with the prior fiscal year, the entire available HOME funding ($522,900) was allocated to the HELP program. Seventy-nine HELP loans were issued and Eucalyptus View, a twenty four-unit affordable housing cooperative with a childcare facility, was completed. As discussed above in more detail, funding for its development was received in FY 1995.
- For Fiscal Year 2002-2003, the City received an allocation of $744,000. Consistent with prior years, available funding was allocated to the HELP program. Fifty-nine HELP loans were funded. Funding was also allocated to the acquisition and rehabilitation of a 15-unit rent-restricted apartment complex on Orange Place, and the development of four of the eight soon to be built detached transitional housing units on Second Avenue.
- For Fiscal Year 2003-2004, the City received an allocation of $958,953. HOME funds were allocated to the rehabilitation of Orange Place Apartments and the development of Solutions Family Center in Vista. The family center consists of 33 living spaces and accommodates 120 beds. Orange Place Apartments opened in late spring of 2004, and Solutions opened in October of 2004. Twenty-two HELP loans were issued during the reporting period.
To access additional information regarding the HOME program, visit www.hud.gov/offices/cpd/affordablehousing/programs/home/index.cfm.