HOME Program Overview
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. The vast majority of the City’s annual allocation is dedicated to the development of affordable housing opportunities and programs benefiting Escondido’s lower-income households. The City’s Homebuyer Entry Loan Program (HELP) assists low-income, first-time homebuyers with down payment and closing costs. The HELP program has been funded with HOME funds since September, 1996. Notice of the availability of HOME funds dedicated to Housing Development is periodically released through the City’s Request for Proposals (RFP) process.
To access additional information regarding the HOME program click on the following link:
Recent Program Accomplishments:
Fiscal Years 2011-2015
During the most recent five-year period, the City received a total HOME allocation of $2,329,300. Eighty first-time homebuyer (HELP) loans were issued utilizing $908,565 of this funding. In addition, $4,600,000 was allocated to three multi-family, affordable housing development projects: Avocado Court, The Crossings at Escondido Manor and Cypress Cove.
Fiscal Years 2006-2010
During this five-year period, the City received a total HOME allocation of $4,340,593. A total of 210 HELP first-time homebuyer loans were issued, totaling $2,837,849. $4,777,530 was allocated to four affordable housing development projects during the period, including Milane Lane, Orangewood and The Elms, which are ownership projects by Habitat for Humanity; and Juniper Senior Village, a senior rental project.
Fiscal Years 2001-2005
During this five-year period, the city received a total HOME allocation of $4,359,640. The allocation was used to fund a total of 194 HELP first-time homebuyer loans, for a total of $1,978,000. In addition, $1,938,000 was used to assist three affordable housing developments: Orange Place Villas, Solutions Family Center in Vista, and Serenity Village.
Fiscal Years 1996-2000
During this period the city received a total of $3,150,000 in HOME funds. The City’s Homebuyer Entry Loan Program (HELP) to assist low-income first-time homebuyers with down payment and closing costs using HOME funding began during this period, and a total of 540 loans were made during the five years. HOME funds also were used in the Rental Rehabilitation Pilot Program, which ran during 1997-1999. During this period, HOME funds also were allocated to the Sonoma Court REO project, discussed in the next section.
Previous Program Accomplishments:
- The City 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.
- The City also received an allocation of $567,000 in FY 1995-96 HOME funds from the U.S. Department of Housing and Urban Development (HUD). 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 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 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 Emerald Gardens/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.
- 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.
- 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.