Match

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Fiscal Distress Match Reductions   FY 2004   FY 2003

Welcome to the HOME Match Web Page

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:

Fiscal Distress Match Reductions for FY 2004

• List of FY 2004 Match Reductions
• CPD Match Reductions Notice
  CPD Notice 04-06 (June 4, 2004) is now available for FY 2004 guidance
  Notice of Procedures for HOME Program - Match Reductions for Fiscal and Severe Fiscal Distress, and for Major Presidentially-Declared Disasters under the Stafford Act.
  PDF | WORD

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 2004 Calculations
  • FY 2004 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 2004 Calculations
  • The FY 2004 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 2002 to the end of the second quarter of 2003. 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 2.1, which is 75 percent of the average national personal income growth rate of 2.8.

Fiscal Distress Match Reductions for FY 2003

• List of FY 2003 Match Reductions
• CPD 03-07 PDF | WORD - July 11, 2003
  HOME Program - Match Reductions for Fiscal Distress for Fiscal Years 2002 and 2003, and for Major Presidentially-Declared Disasters under the Stafford Act.

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 2003 Calculations
  • FY 2003 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 2003 Calculations
  • The FY 2003 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 2001 to the end of the second quarter of 2002. 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 2.0, which is 75 percent of the average national personal income growth rate of 2.7.