Match

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All participating jurisdictions (PJs) must contribute or match 25 cents for each dollar of HOME funds spent on affordable housing. As PJs draw funds from HOME Investment Trust Funds, they incur a match liability, which must be satisfied by the end of each Federal fiscal year. The matching contribution adds to the resources available for HOME-assisted or HOME-eligible projects.

The HOME statute provides for a reduction of the matching contribution requirement under three conditions:

1. fiscal distress,
2. severe fiscal distress, and
3. for Presidentially-declared major disasters covered under the Stafford Act.

Here's more information about HOME match and match reductions:

CPD Match Reductions Notice

CPD Notice 2007-05,
Issued July 11,2007
HOME Program - Match Reductions for Fiscal and Severe Fiscal Distress and for Major Presidentially-Declared Disasters under the Stafford Act
PDF | WORD
(This Notice supersedes CPD Notice 04-06)

Match Reductions for FY 2008

• List of FY 2008 Match Reductions
  The list includes match reductions granted for FY 2008 due to fiscal distress, severe fiscal distress, and Presidential disaster declarations. For those PJs with both fiscal distress and Presidential disaster match reductions, the PJ may take the higher match reduction for the current fiscal year.
  Note: Since match reductions due to major Presidential disaster declarations are requested by PJs and granted by field offices at any time during the fiscal year, this list will be updated as needed.

Local Jurisdictions

When a local jurisdiction meets one of the distress criteria, it is determined to be in fiscal distress and receives a 50 percent reduction of match. If a local jurisdiction satisfies both of the distress criteria, it is determined to be in severe fiscal distress and receives a 100 percent reduction of match.

• FY 2008 Calculations
  • FY 2008 family poverty rate and per capita income (PCI) income were based on data obtained from the 2000 Census. These were the latest data available at the time.
  • For a jurisdiction to qualify as distressed based on the poverty criterion, its percent of families in poverty must have been at least 11.5 percent, which is 125 percent of the average national rate for families in poverty of 9.2 percent.
  • For a jurisdiction to qualify as distressed based on the PCI criterion, its average PCI must have been less than $16,190, which is 75 percent of the average PCI of $21,587.

State Jurisdictions

For a state to qualify under the personal income growth rate criterion, the state's rate must be less than 75 percent of the average national personal income growth rate during the most recent four quarters.

• FY 2008 Calculations
  • The FY 2008 personal growth rate was based on data received from the Department of Commerce, Bureau of Economic Analysis, from the beginning of the third quarter of 2005 to the end of the second quarter of 2006. These were the latest data available at the time.
  • For a state to qualify as distressed based on the personal income growth rate, the state per capital income growth rate must have been less than 4.8, which is 75 percent of the average national personal income growth rate of 6.4.