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What is HOME? <br />•The one and only purpose of HOME is to expand the supply of decent, safe, sanitary, and affordable housing. Can only be used to support permanent or long-term transitional affordable housing. <br />•Eugene is an “entitlement jurisdiction” for HOME funds. Eugene and Springfield formed a “consortium” in 1992 to create a pool of resources to support projects in both jurisdictions. <br />•Highly complex and restrictive program with strict commitment and expenditure deadlines. <br />•Best suited for supporting new construction or acquisition of existing affordable rental housing. <br />•Requires a minimum 25% match of nonfederal funds and cannot be committed until all other project sources are in place. <br />•HOME projects must meet a very high habitability standard and meet up to a 20 year period of affordability. <br />20