Federal Grant Award Summary

The Housing Authority City of Searcy received a $448,074 formula grant award from the U.S. Department of Housing and Urban Development (HUD), Public and Indian Housing Office, under the Public Housing Capital Fund program (CFDA 14.872). The award, dated April 1, 2026, with a completion date of March 31, 2030, supports critical capital and management activities for public housing in Searcy, Arkansas. The Capital Fund provides financial assistance to approximately 2,770 Public Housing Agencies (PHAs) nationwide serving nearly one million public housing units for modernization, development, and management improvements.

The funding enables the Housing Authority to conduct eligible capital activities as defined in 24 CFR Part 905, including public housing development, modernization, and financing activities. Allowable uses of Capital Fund grants encompass construction, acquisition, and rehabilitation of public housing properties; routine and preventative maintenance; energy efficiency upgrades; emergency repairs; anti-crime and security initiatives; debt service payments; and customary financing costs for standard and mixed-finance developments. As a formula-based grant program, the Capital Fund allocation to the Housing Authority is calculated by HUD using established formulas reflecting the agency's public housing inventory characteristics, such as unit counts, building age, and construction costs, rather than through competitive application processes. All expenditures must comply with 2 CFR 200 Uniform Administrative Requirements and be documented in an approved 5-Year Action Plan or approved by HUD for emergency work.