Formula Grant M24DC120222

The Department of Housing and Urban Development (HUD) awarded a $850,894.46 Home Investment Partnerships Program (CFDA 14.239) formula grant to the County of Osceola, Florida on October 25, 2024. The HOME program provides grants to state and local governments to fund a variety of affordable housing activities, including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and construction of rental housing, and tenant-based rental assistance. The grant will allow Osceola County to expand the supply of affordable housing for low- and very low-income residents, with at least 15% of the funds reserved for projects developed by Community Housing Development Organizations. The county plans to use the funding to acquire, construct, or rehabilitate affordable housing units and provide rental assistance to eligible households, based on the priorities outlined in its five-year Consolidated Plan and annual action plans submitted to HUD. The program's expected outcomes include increasing the availability of standard, affordable housing for the target income population in Osceola County.