Formula Grant IN36P01250126

The Housing Authority of the City of New Albany received a $2,596,376 formula grant award from the U.S. Department of Housing and Urban Development's Public and Indian Housing Office under the Public Housing Capital Fund (CFDA 14.872), effective April 1, 2026 through March 31, 2030. This funding supports capital and management activities to modernize and develop public housing infrastructure serving low-income residents in New Albany, Indiana. The Capital Fund provides resources for eligible activities including public housing development, modernization, management improvements, infrastructure repairs, and financing activities such as debt service payments on mixed-finance developments.

As a formula-based allocation program, the Capital Fund award amount is determined through HUD's established formula reflecting the Housing Authority's public housing inventory characteristics rather than through competitive application. The funds may be used only for activities specified in the Authority's approved five-year action plan or for emergency work, and must comply with 2 CFR Part 200 Uniform Administrative Requirements. The Housing Authority maintains responsibility for budgeting, cost tracking, and compliance documentation subject to HUD and independent audit review throughout the four-year performance period.