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2 <br /> Using HOME Funds for Tenant-Based Rental Assistance <br /> HOME Helps Renters <br /> HOME funds can be used to provide direct assistance to low-income households who need help paying their rent. <br /> HOME-funded Tenant-Based Rental Assistance(TBRA) is a rental subsidy that helps make up the difference <br /> between what a renter can afford to pay and the actual rent for a home. <br /> Using HOME funds for TBRA is ideal for jurisdictions with: <br /> ❑ A high vacancy rate for standard housing that is not affordable to low-and very low-income households; <br /> ❑ Very high development costs,where it is more cost effective to provide a rental subsidy than to construct or <br /> rehabilitate housing units, or where large public subsidies are needed to spur private development; and <br /> ❑ Residents with special housing needs who need financial assistance to afford rent. <br /> TBRA Provides Needed Subsidy <br /> Low-income households can receive HOME TBRA to help pay rent, utility costs, security deposits, and utility <br /> deposits. HOME TBRA Program is unique because: <br /> ❑ It helps individual households, <br /> ❑ It can be used in a unit chosen by the tenant,and moves with the tenant, and <br /> ❑ The amount of the'rental subsidy is based on the income of the household,the particular unit the <br /> household selects,and the Participating Jurisdiction's(PJ's) rent standard. <br /> TBRA is Flexible <br /> A PJ has the ability to tailor its TBRA program to meet the needs of its own community. For example,a PJ can: <br /> ❑ Choose the population served.The PJ may design its program so that it serves the entire community, or <br /> focus only on a special purpose or specific housing need, such as elderly tenants, large families, or a special <br /> needs population that has been identified in the PJ's Consolidated Plan. <br /> U Choose the type of assistance provided.The PJ may provide assistance for rent and/or for security deposits <br /> in the form of grants or loans. PJs can also provide utility deposit assistance in conjunction with security <br /> deposit assistance. <br /> U Choose to pay the subsidy to the assisted household, or through contract with the property owner. <br /> The assisted household also benefits from the flexibility of HOME TBRA.The household can: <br /> ❑ Choose the neighborhood it wants to live in, <br /> ❑ Choose the type of housing and specific housing unit, and <br /> ❑ Move to other housing,as needed. If a PJ permits it,TBRA can even be used outside the PJ's jurisdiction. <br /> TBRA Can Work in Partnership with Other Programs <br /> TBRA funds can supplement other program funds to enhance the services provided by other programs. For <br /> example, a P3 can: <br /> ❑ Form a partnership with the local housing authority to use HOME TBRA to assist those on the Section 8 <br /> waiting list. <br /> ❑ Use TBRA to assist tenants identified as potential homebuyers under a lease-purchase program, until the <br /> purchase is complete. <br /> ❑ Can require TBRA recipients to participate in a self-sufficiency program (for example, a bootstrap program) <br /> in order to receive assistance. <br /> LI Choose to use TBRA to support housing development activities. PJs can undertake the rehabilitation of <br /> occupied or partially occupied properties by providing TBRA assistance to households displaced by the <br /> housing projects. However, the TBRA assistance stays with the tenant household whether it moves or stays <br /> at its current residence. <br /> 3 <br />