John Garamendi reintroduced the HOME Investment Partnerships Reauthorization and Improvement Act to solve the national affordable housing crisis.

Rep. Garamendi Introduces HOME Act to Tackle Affordable Housing Crisis (Photo: garamendi.house.gov)

Affordable Housing Crisis

This proposal, co-introduced with Ohio Democrat Joyce Beatty, seeks to increase federal financing for accessible housing to address the nationwide need for affordable housing. US Sen. Catherine Cortez Masto (D-Nev) is also introducing a measure.

Garamendi emphasized the urgent need for affordable housing, citing hardworking Californians’ significant struggles to secure viable living arrangements.

According to the official website of Garamendi Housing Project on Addressing the Affordable Housing Crisis:

“Every single American deserves a roof over their head and a place to sleep at night. The Bay Area is one of the most expensive property markets in the United States and decreasing housing prices and increasing affordable housing opportunities are two of my top priorities.”

State and local governments could access funds for the building or rehabilitation of affordable rental housing and the promotion of homeownership opportunities for working families through the proposed legislation’s goal of updating the HOME Investment Partnership Program, which was initially authorized in 1994.

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HOME Investment Partnerships Program’s Crucial Role

The HOME Investment Partnerships Program is the principal federal affordable housing block grant. It is pivotal to the Department of Housing and Urban Development‘s (HUD) efforts in cheap housing production.

Since its inception in 1990, it has supported various housing requirements, including financing for new construction, home repairs, down payments, and rental assistance.

Additionally, the program’s extension of extra funds to housing complexes that receive the Low-Income Housing Tax Credit benefits a broader range of highly low-income people, including veterans, seniors, those who are homeless, and people with disabilities.

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