Formula Grant AR56P06850126

The Hope Housing Authority received a $599,521 Public Housing Capital Fund (CFDA 14.872) formula grant award from the U.S. Department of Housing and Urban Development's Public and Indian Housing Office, effective April 1, 2026, with a completion date of March 31, 2030. This award supports capital and management activities for the Authority's public housing inventory, which serves approximately 900 units and 1,500 residents in Hope, Arkansas. Funding may be allocated toward modernization, infrastructure improvements, energy efficiency upgrades, emergency repairs, and development activities as specified in the Authority's approved 5-year action plan and in compliance with 24 CFR Part 905.

As a formula-based allocation rather than a competitive grant, the award amount was calculated by HUD using established formulas reflecting the Authority's public housing inventory characteristics, including unit counts, building age, and construction costs. The Authority must maintain accurate inventory data in HUD's Information Management System and comply with 2 CFR 200 Uniform Administrative Requirements. Like all Public Housing Agencies receiving Capital Fund awards, the Hope Housing Authority is required to obligate funds by the deadline (which may be extended upon timely request) and expend all funds by the ultimate completion date, while maintaining detailed budgets and cumulative cost records subject to HUD and independent auditor review.