The City of San Jose received a $2,655,375.96 Formula Grant award from the U.S. Department of Housing and Urban Development (HUD) under the Home Investment Partnerships Program (CFDA 14.239). The HOME program provides need-based grants to state and local governments to fund activities including building, buying, and/or rehabilitating affordable housing for rent or homeownership, or providing direct rental assistance to low-income people.
Through this award, the City of San Jose will use the funds to acquire owner-occupied or rental housing in standard condition to be occupied by low-income households, construct or rehabilitate affordable rental or owner-occupied housing, provide homeownership assistance to low-income buyers, and/or offer tenant-based rental assistance. The city must reserve at least 15% of the HOME funds for projects sponsored by Community Housing Development Organizations. The award period extends from November 7, 2024 through September 30, 2033.
Additionally, the City of San Jose provided a $[AMOUNT] sub-award to the Law Foundation of Silicon Valley to support the Fair Housing Consortium, which will deliver fair housing services to prevent homelessness and combat housing discrimination in the local community.