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The National Affordable Housing Act of 1990 created the HOME Investment Partnership Program. This federal program is designed to strengthen public-private partnerships and to expand the supply of decent, safe, sanitary, and affordable housing.

HOME funds are used to achieve the following objectives:
•To provide decent, affordable housing to lower-income households.
•To expand the capacity of non-profit housing providers.
•To strengthen the ability of state and local governments to provide housing.
•To leverage private sector participation.

Eligible activities are defined in accordance with the following categories:
•Housing rehabilitation.
•Homebuyer activities.
•Rental housing activities.
•Tenant-based Rental Assistance (TBRA).

Individual households, non-profit and for-profit developers may apply for HOME funding.