HOME Investment Partnerships Program (HOME)

The purpose of the HOME program is to provide subsidies in the form of grants or loans for the acquisition, rehabilitation, and/or new construction of housing for low-income households. HOME funds can be used for rental housing or homebuying opportunities, often in partnership with local nonprofits. These subsidies allow for the property to either charge below market rate rents or sell the home for below market rate value. Exact eligibility of tenants or buyers is determined by the property, but program requirements specify eligible income must be between 30% and 60% area median income.

HOME Rental

HOME funding for rental units can be combined with Low Income Housing Tax Credits (LIHTC), or it can be a standalone award. The type of construction dictates how long HOME units are required to remain affordable.

• New Construction - 20 years
• Rehabilitation, >$50k per unit - 15 years
• Rehabilitation, $25-50k per unit - 10 years
• Rehabilitation, <$25k per unit - 5 years
• If paired with LIHTC - 30+ years; same length as LIHTC award

Before coming to Lacasa five years ago, Carla experienced homelessness, and she and her son, Michael, were separated for more than a year. Their apartment at The Shoots became the place where they were finally able to reunite and rebuild stability together.

When Lacasa began renovations funded through IHCDA’s HOME program and Goshen CDBG funds, Carla and Michael temporarily relocated to a newly renovated unit so theirs could be updated. Moves like this can create stress for residents, but Carla shared that Lacasa’s staff made the process manageable by helping with supplies, coordinating furniture moving, and staying patient and organized throughout. Ultimately, Carla and Michael chose to stay in the new unit, as it was larger and better suited their small family’s needs.

Improvements to The Shoots were made possible through IHCDA’s HOME funding, which allows Lacasa to update aging, historic properties with modern, efficient, and sustainable upgrades. This investment is essential to ensuring residents like Carla and Michael have safe, well-maintained homes and the stability they need to move forward.

HOME Homebuyer

The development includes 24 new affordable duplex units, featuring two-story and ranch-style designs built with families and residents with disabilities in mind. For a site that was once an eyesore for the community, Oakland Gardens now “tells a new story of progress, purpose, and pride,” stated Mayor James Deffendall.

The homes were designed with families and residents with disabilities in mind, reflecting the community's commitment to inclusive growth.

"It is very important for us to view different areas, especially rural communities, and bring beautiful housing to them," said Jody Heazlitt, president and CEO of New Hope Services.

An additional phase of the project was awarded HOME funds in June of 2025 for the creation of 8 more affordable units.

Debbie Schmidtknecht. "Oakland Gardens development dedicated" Princeton Clarion, July 29, 2025.