HOME Program Income

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Program income is received by a participating jurisdiction, state recipient, or sub recipient that is directly generated from the use of HOME funds or matching contributions.

Program income includes, but is not limited to:

	Proceeds from the sale or long-term lease of real property acquired, rehabilitated or constructed with HOME funds or matching contributions;
	Income from the use or rental of real property owned by a PJ, state recipient, or sub recipient that was acquired, rehabilitated, or constructed with HOME funds or matching contributions, minus the costs incidental to generating that income;

	Payments of principal and interest on loans made with HOME or matching funds, and proceeds from the sale of loans or obligations secured by loans made with HOME or matching contributions;
	Interest or other return on investment of HOME and matching funds;
	Interest on program income;
	Any other interest or return on the investment of HOME and matching funds.

Not all income is considered program income. Some examples of items that are not considered program income include:

	Repaid loans guaranteed with HOME funds are not considered program income and are not subject to HOME requirements
	Recaptured HOME funds are the repayment of original HOME investments, and are technically not program income.