Federal Formula Grant Award Summary

The Kensett Housing Authority received $106,283 in formula-based funding from the U.S. Department of Housing and Urban Development's Public and Indian Housing Office under the Public Housing Capital Fund (CFDA 14.872) program. The award, effective April 1, 2026, through March 31, 2030, supports capital and management activities for public housing serving low-income residents in Kensett, Arkansas. Capital Fund allocations enable the housing authority to carry out modernization, development, infrastructure improvements, and management enhancements to public housing units, consistent with activities specified in the authority's approved five-year action plan or approved emergency work.

As a formula-based allocation rather than a competitive grant, the funding is calculated by HUD using established formulas that reflect the housing authority's public housing inventory characteristics, including unit counts, building age, and construction costs. The Kensett Housing Authority must deploy these capital funds exclusively for eligible activities defined under 24 CFR Part 905, which include property modernization, development of additional units, and related financing costs for debt service and customary financing expenses. The housing authority is required to maintain accurate public housing inventory data in HUD's Information Management System and comply with 2 CFR 200 Uniform Administrative Requirements and audit provisions throughout the award period.