Federal Grant Award Summary: Housing Trust Fund

The Idaho Housing and Finance Association (IHFA) received a Housing Trust Fund (HTF) formula grant award of $3,001,259.36 from the U.S. Department of Housing and Urban Development (HUD), Assistant Secretary for Community Planning and Development, effective September 23, 2025, through September 23, 2032 (CFDA 14.275). IHFA will utilize these funds to expand and preserve affordable rental housing for extremely low-income and very low-income households throughout Idaho. The organization is required to allocate at least 80 percent of the award toward rental housing activities, including the acquisition, new construction, and rehabilitation of affordable rental units targeting households with incomes at or below 30 percent of area median income or the federal poverty line, whichever is greater. Up to 10 percent may be directed toward homeownership assistance, and up to 10 percent toward reasonable administrative and planning costs, with an additional option to utilize up to 30 percent for the operation of acquired or rehabilitated rental housing.

As a quasi-governmental organization and established HUD grantee, IHFA will leverage its infrastructure and partnerships with local governments and non-profit entities to implement housing production and preservation initiatives across Idaho. The award supports IHFA's ongoing mission to address housing challenges and serve low-income populations through targeted federal housing programs. All drawdown funds must be expended within 15 days of disbursement, with project commitments required within 24 months and full expenditure mandated within five years of the award date.