Summary

The Crestview Housing Authority received a Formula Grant award of $960,802 from the U.S. Department of Housing and Urban Development's (HUD) Public and Indian Housing Office under the Public Housing Capital Fund (CFDA 14.872) program, effective April 1, 2026, through March 31, 2030. This award provides capital funding for modernization, development, emergency repairs, energy efficiency upgrades, and management improvements to public housing units within the authority's inventory. The Capital Fund also supports financing activities, including debt service payments and customary financing costs for standard and mixed-finance developments serving low-income residents.

The Public Housing Capital Fund operates as a formula-based allocation program that provides annual funding to approximately 2,770 Public Housing Agencies nationwide managing nearly one million units across all 50 states and territories. Formula allocations are calculated based on characteristics of each PHA's public housing inventory, such as unit counts, building age, and construction costs, rather than through competitive application processes. Recipients must comply with 2 CFR 200 Uniform Administrative Requirements, maintain accurate inventory data in HUD's Information Management System, and document all capital activities in accordance with approved five-year action plans or HUD-approved emergency work designations.