Rep. Cleaver Joins Colleagues in Introducing Legislation to Combat Affordable Housing Crisis, Invest in New Units Across the Country

January 29, 2024
Press Release

(Washington, D.C.) – Last week, U.S. Representative Emanuel Cleaver, II (D-MO), Ranking Member of the Financial Services Subcommittee on Housing and Insurance, joined Representatives Joyce Beatty (D-OH) and John Garamendi (D-CA), along with Senator Catherine Cortez Masto (D-NV), to introduce the HOME Investment Partnerships Reauthorization and Improvement Act. The legislation would make significant investments in the U.S. Department of Housing and Urban Development’s (HUD) HOME Investment Partnerships Program, which supports the construction of affordable housing units in communities across the country.

“It’s no secret that America is facing a housing affordability crisis—but it is imperative that Congress started to act like it,” said Congressman Cleaver. “By providing states and cities the federal funding and flexibility necessary to support the construction of affordable housing, the HOME program has proven to be one of the most effective tools to combat this crisis. I’m proud to support Reps. Beatty and Garamendi in introducing this legislation, which will ensure HUD’s Home program can maximize its potential, create more affordable housing in Missouri, and lower housing costs for hardworking families.”

“Families across Ohio and the United States are facing a daunting affordable housing crisis that demands creative, collaborative solutions,” said Congresswoman Beatty. “For more than three decades, the HOME program has provided essential gap funding for states and communities across the nation to address their most pressing housing challenges. I am proud to join Senator Cortez Masto and Congressman Garamendi in leading this legislation to authorize ample funding for HOME for the next five years and to make critical improvements to the program that will ensure more American families have access to safe, affordable housing.”

“Hardworking Californians face a drastic shortage of affordable housing options,” said Congressman Garamendi. “Minimum wage workers have to work an 88-hour week on average to afford a modest one-bedroom rental at a fair market rate. This legislation reauthorizes the HOME Investment Partnership Program for the first time since 1994 to bring this crucial program into the 21st century and provide states and local governments with the funding to construct and rehabilitate affordable rental housing as well as provide homeownership opportunities for working families. I'm thankful to Senator Cortez Masto for introducing the companion legislation in the Senate, and we will work tirelessly until this legislation becomes law.”

“We have to do more to address our affordable housing crisis and increase the supply of affordable homes for Nevada families,” said Senator Cortez Masto. “The HOME program delivers critical funding to help communities build new housing units, support rental assistance, and support new homebuyers – but it needs to be updated to meet today’s needs. My legislation reauthorizing, improving and expanding this vital program will ensure more Nevadans have a quality, affordable place to call home.”

The HOME Program is the largest federal block grant provided by HUD to state and local governments designed exclusively to create affordable housing for low-income households. Since 1992, the HOME program has supported more than 1.36 million units of affordable housing for renters, home buyers, and homeowners, of which a significant portion are targeted to very low-income or extremely low-income households. The program is also a smart investment—it leverages $4.76 in public and private funds for every dollar in HOME funding, has supported more than 2 million jobs, and has generated more than $131 billion in local income since the program’s history.

The HOME Investment Partnerships Reauthorization and Improvement Act would reauthorize this critical program and make a number of needed improvements, such as:

  • Authorizing $5 billion in HOME funding for FY 2024 and increasing funding for the program five percent annually through FY 2028.
  • Establishing a loan guarantee program under HOME to allow State and Local Participating Jurisdictions (PJs) to leverage limited federal resources and expand program impact.
  • Streamlining and coordinating property inspections for HOME-assisted properties.
  • Giving additional authority in high-cost areas to provide down payment assistance and other support for prospective homeowners.
  • Establishing protections for active-duty service members to be able to sell their homes in the event of deployment, or beneficiaries in the event of a deceased relative.

The HOME Investment Partnerships Reauthorization and Improvement Act is endorsed by the National Council of State Housing Agencies, Institute of Real Estate Management, National Association of Hispanic Real Estate Professionals, National Association of Realtors, Enterprise Community Partners, National Apartment Association, National Multifamily Housing Council, National NeighborWorks Association, National Community Development Association, National Alliance of Community Economic Development Associations, National Association of Local Housing Finance Agencies, Council of State Community Development Agencies, National Coalition for Asian Pacific American Community Development, Local Initiatives Support Corporation, Grounded Solutions Network, and Habitat for Humanity.

Official text of the HOME Investment Partnerships Reauthorization and Improvement Act is available here.

 

Emanuel Cleaver, II is the U.S. Representative for Missouri's Fifth Congressional District, which includes Kansas City, Independence, Lee's Summit, Raytown, Grandview, Sugar Creek, Greenwood, Blue Springs, North Kansas City, Gladstone, and Claycomo. He is a member of the exclusive House Financial Services Committee and Ranking Member of the House Subcommittee on Housing and Insurance.