Federal Grant Award Summary

The Princeton Housing Authority received a $351,578 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 award provides financial assistance to support capital and management activities for the Authority's public housing portfolio serving low-income residents in Princeton, Kentucky. The Capital Fund allocation enables the Authority to undertake modernization initiatives, infrastructure improvements, emergency repairs, energy efficiency upgrades, and development activities that enhance the physical condition and functionality of its public housing units.

The formula-based grant funds eligible activities as specified in the Authority's HUD-approved 5-Year Action Plan and compliant with 24 CFR Part 905, including construction, acquisition, rehabilitation, and reconfiguration of public housing units, as well as management improvements and financing costs associated with standard and mixed-finance developments. As a formula grant program serving approximately 2,770 Public Housing Agencies (PHAs) nationwide managing nearly one million units, the Capital Fund allocation to the Princeton Housing Authority is calculated based on inventory characteristics such as unit counts, building age, and construction costs, rather than through competitive application processes. The Authority must maintain accurate inventory documentation in HUD's Information Management System and comply with applicable federal audit and administrative requirements under 2 CFR 200.