Policy Update: HOME advocacy
This week the Network submitted a letter to HUD seeking confirmation that ground lease payments are permissible under the new HOME Rule. The letter provides a rationale for ground lease payments and additional information on how the CLT form of homeownership varies from other affordable owner-occupied development.
Our legal advisors have recommended that we pursue clarification on ground lease payments and provide educational information before attempting to address additional challenges faced by CLTs in the HOME program, that may require rule changes. Ultimately, we do not anticipate that HUD will be open to additional rule changes; therefore, our approach at this time is to seek clarification and guidance within the rules. The Network is also working with our legal consultants to issue guidance to our members on ways to cover the costs of stewardship that are in compliance with the HOME program. Stay tuned for more information.