Congressional Leaders Work to Build Support for Section 4, HOME, & CDFI Fund

Affordable housing industry partners are working with Members of Congress to build support for Fiscal Year 2023 (FY23) appropriations, including the Section 4 Capacity Building Program (Section 4), the HOME Investment Partnerships Program (HOME), and the Community Development Financial Institutions (CDFI) Fund. Senator Chris Van Hollen (D-MD) and Senator Todd Young (R-IN) are circulating a Dear Colleague letter to support $50 million for Section 4 in FY23, $9 million over FY22 levels. Senator Coons’ office is also circulating a Dear Colleague letter to support providing $2.1 billion in funding for HOME, $600 million above FY22 levels. Finally, Senator Robert Menendez (D-NJ) is circulating a letter in support of $331.4 million for the CDFI Fund for FY23, the same amount requested in the President’s budget and $36 million above FY22 levels. Dear Colleague letters still open for Members of Congress to sign on to include:

Section 4, HOME, and the CDFI Fund are critical programs that strengthen communities across the country. We encourage stakeholders to contact their Senators and ask that they sign on in support of these important affordable housing and community development programs.

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