It was certainly surprising to learn Jamestown has nearly $1 million in unspent federal HOME program money sitting in the bank.

One would think a city with the housing issues Jamestown faces wouldn’t have that much federal aid waiting to be spent, especially with the popularity and success of programs created last year with federal American Rescue Plan Act money.

With so much money from 2018 through 2021, it’s hard to find fault with the city’s plan to partner with the Chautauqua Home Rehabilitation and Improvement Corp. by spending $225,000 in unspent HOME program money on a first-time home buyer program. CHRIC will provide up to $4,000 in financial assistance to low- and moderate-income first-time home-buyers with CHRIC reimbursed by the Jamestown Urban Renewal Agency. The program will end in 2026. It’s hard to find fault with this program other than wondering why the city hadn’t found this partnership at some other point over the past few years, particularly when the city’s housing market was soft and the first-time home buyer help could have really helped prop up a lagging housing market.

We are curious about two things. What is the city’s plan for the remaining $750,000 in unspent HOME program money from 2018-2021 and any other unspent CDBG money, and how will the city change its future HOME program plans to avoid having pots of unspent money in the future. Much like the federal ARPA money, HOME program and CDBG are an outright gift from taxpayers through the federal government, and having that money waiting to be spent is a waste of that gift. If existing programs aren’t being spent, then the city must come up with new programs that will be spent quickly. Heaven knows neighborhoods in the city need the investment. Having $1 million in unspent money over the course of five years is a sign we have to create new HOME-funded programs that will benefit the city’s housing stock.