Formula Grant M24MC010204

The U.S. Department of Housing and Urban Development (HUD) awarded a $852,713.98 HOME Investment Partnerships Program (CFDA 14.239) formula grant to the City of Montgomery, Alabama on November 25, 2024. The HOME program provides grants to states and local governments to fund a range of affordable housing activities, including rehabilitation of owner-occupied homes, homebuyer assistance, and rental housing acquisition, rehabilitation, or construction. The City of Montgomery will use the HOME funds to address local affordable housing needs in alignment with its five-year Consolidated Plan and annual action plans submitted to HUD. Activities may include expanding the supply of affordable rental and owner-occupied units, providing direct rental assistance to low-income households, and supporting community housing development organizations. The HOME program requires that at least 15% of grant funds be reserved for projects sponsored by community housing development organizations, and allows up to 10% for program administration.