The HOME Program provides federal grants to localities such as Sioux Falls to use for a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or homeownership, or provide direct rental assistance to low-income people. The HOME Program requires a local match of 25 percent.

HOME funds may be used to carry out multi-year housing strategies through:

• New construction of standard housing
• Rehabilitation of standard housing
• Acquisition of standard housing
• Assistance to homebuyers
• Tenant-based rental assistance

Community Development will receive $490,225 of HOME funds from the federal government in 2007. Program income receipts in 2007 are anticipated to be approximately $91,000. In addition, $224,882.82 of 2006 carryover funds will be utilized in 2007.