Formula Grant FL29P01850126

The Panama City Housing Authority received a $1,513,236 formula grant award from the U.S. Department of Housing and Urban Development's (HUD) Public and Indian Housing Office under the Public Housing Capital Fund program (CFDA 14.872), effective April 1, 2026, through March 31, 2030. This funding supports capital and management activities for public housing modernization, development, and infrastructure improvements serving low-income residents in Panama City, Florida. The Capital Fund provides financial assistance to approximately 2,770 Public Housing Agencies (PHAs) nationwide managing nearly one million public housing units, with funds allocated through a formula-based methodology reflecting each PHA's inventory characteristics rather than through competitive application processes.

Eligible activities funded under this award include modernization and development of public housing units, management improvements, emergency repairs, infrastructure upgrades, energy efficiency enhancements, and financing activities such as debt service payments for standard and mixed-finance developments. The Panama City Housing Authority must utilize the funds in accordance with approved 5-year action plans or for HUD-approved emergency work, with all expenditures conducted in compliance with 2 CFR 200 Uniform Administrative Requirements and maintained for audit purposes by HUD and independent accountants.