Formula Grant F24SG560100

The federal Formula Grant award of $3,144,833.37 was provided by the U.S. Department of Housing and Urban Development (HUD) to the Wyoming Community Development Authority under the Housing Trust Fund (CFDA 14.275) program. The purpose of this grant is to expand and preserve the supply of affordable rental housing, with a focus on serving extremely low-income and very low-income households.

The grantee, the Wyoming Community Development Authority, is required to use at least 80% of the grant funds for rental housing activities, which may include the acquisition, new construction, or rehabilitation of affordable rental units. Up to 10% of the funds can be used for homeownership assistance, and up to 10% can be allocated for reasonable administrative and planning costs. The grant also mandates that at least 75% of the funds must benefit households with incomes at or below 30% of the area median income or the federal poverty line. The award has an effective date of September 12, 2024, and a scheduled completion date of September 11, 2031.