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The HOME Investment Partnerships Program (HOME) has provided over $12 million to the City of Racine since 1992 in formula grants that have been used - often in partnership with local nonprofit groups - to fund a wide range of activities including building, buying, and/or rehabilitating
affordable housing for rent or homeownership or providing direct rental assistance to low-income people. It is the largest Federal block grant to state and local governments designed exclusively to create affordable housing for low-income households.
HOME has been involved in a number of great projects throughout the community, from Arcade Lofts downtown to single family home construction in West Racine. Presently, we have HOME funds committed to rehabbing an eight unit building on Washington Avenue and to help support the
development of 74 high quality housing units for veteran households in the Uptown Neighborhood.
All City of Racine HOME projects are thoroughly vetted for compliance with federal regulations and undergo detailed financial underwriting. Our goal is to only provide the minimum level of assistance needed to make projects feasible through forgivable loans, and to utilize interest bearing loans to
build as much program income as possible to reinvest into other HOME eligible projects. All entities receiving HOME funds must sign legally binding written agreements attesting that they understand HOME program regulations and will comply with their terms for the duration of the period of
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Home: HUD Exchange
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