On November 4, HUD proposed a new rule under its Home Investment Partnerships Program (“HOME”). The proposed regulatory requirements would, among other things, require state and local governments to: (i) adopt policies and procedures to improve project oversight; (ii) develop a system for assessing the relative risk of projects, and more closely monitor HOME-funded sub-recipients; and (iii) assess the capacity of developers and the long-term viability of projects prior to committing HOME funds. HUD Release.