Federal Grant Award Summary

The U.S. Department of Housing and Urban Development's Public and Indian Housing Office awarded $350,781.00 to the Ola Housing Authority through the Public Housing Capital Fund (CFDA 14.872) formula grant program on April 1, 2026, with a completion date of March 31, 2030. This formula-based allocation provides funding for capital and management activities to support low-income public housing operations in Ola, Arkansas. The Capital Fund grant supports eligible activities including public housing modernization, infrastructure improvements, development of additional housing units, energy efficiency upgrades, emergency repairs, and financing activities such as debt service payments.

The Ola Housing Authority will utilize these funds to carry out capital improvements and management enhancements within its public housing portfolio in accordance with its approved 5-Year Action Plan and the eligible activities defined in 24 CFR Part 905. As a local housing authority managing public housing units for low-income residents, the organization must maintain accurate inventory data, comply with 2 CFR 200 Uniform Administrative Requirements, and submit to audit requirements coordinated with independent auditors or HUD. The funding represents the agency's annual formula allocation based on established criteria such as unit count, building age, and construction costs rather than through a competitive application process.