Formula Grant F24SG540100

Award Date 9/24/24
Completion Date 9/23/31
Dollars Obligated $3.1M
Federal Grant Program
14.275
Assistance Type
Formula Grant
Place of Performance
Charleston, WV 25304, USA
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The U.S. Department of Housing and Urban Development (HUD) awarded a $3,144,833.37 Housing Trust Fund (CFDA 14.275) formula grant to the West Virginia Housing Development Fund on September 24, 2024. The grant will be used to support the acquisition, new construction, and rehabilitation of affordable rental housing units for households with incomes at or below 30% of the area median income or the federal poverty line. At least 80% of the grant funds must be used for rental housing activities, with up to 10% allowed for homeownership assistance and 10% for administrative costs. The grant period extends through September 23, 2031. The West Virginia Housing Development Fund, a state housing finance agency, will work with sub-recipients to implement affordable housing projects across the state using these formula grant funds.

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