The U.S. Department of Housing and Urban Development (HUD) awarded the Ogle County Housing Authority a $642,573 formula grant under the Public Housing Capital Fund (CFDA 14.872) program. This funding will support the development, modernization, and financing of nearly 1 million public housing units across the United States. Key activities to be performed include:
Public housing development, such as construction, acquisition, and rehabilitation of public housing units
Modernization of existing public housing properties to maintain decent, safe, and sanitary living conditions
Financing activities, including debt service and financing costs, for public housing development and modernization projects
The grant period runs from May 6, 2024 to May 5, 2028, with the intended beneficiaries being low-income public housing residents served by the Ogle County Housing Authority. This formula grant is part of approximately $3.2 billion in annual Public Housing Capital Fund awards that HUD provides to support the preservation and improvement of the nation's public housing infrastructure.