Formula Grant M24DC370215

This $684,778.39 HOME Investment Partnerships Program (CFDA 14.239) formula grant, awarded by the U.S. Department of Housing and Urban Development (HUD) to the County of McDowell, North Carolina on September 20, 2024, will fund a range of affordable housing activities. The HOME program provides grants to state and local governments to expand the supply of decent, safe, and affordable housing for low- and very low-income individuals and families.

With this award, the County of McDowell plans to use the HOME funds to acquire, rehabilitate, or construct affordable rental and owner-occupied housing, provide homeownership assistance to low-income buyers, and offer tenant-based rental assistance. At least 15% of the award must be reserved for projects developed, owned, or sponsored by Community Housing Development Organizations (CHDOs). The county may also use up to 10% of the funds for program administration. These activities are expected to increase access to affordable housing and support low-income households in the local community.