Formula Grant M24MC060521

The U.S. Department of Housing and Urban Development (HUD) awarded the City of Lynwood a $342,557.64 HOME Investment Partnerships Program (CFDA 14.239) formula grant on September 23, 2024. The HOME program provides need-based grants to state and local governments to fund activities such as building, buying, and/or rehabilitating affordable housing for rent or homeownership, as well as providing direct rental assistance to low-income households. Per the program requirements, the City of Lynwood must reserve at least 15% of the HOME funding for projects owned, developed, or sponsored by Community Housing Development Organizations, and may use up to 10% for program administration. The award is expected to be fully completed by September 30, 2033. The specific sub-recipient activities are unknown at this time, but the City of Lynwood, as the participating jurisdiction, will use the HOME funds to expand affordable housing opportunities for low- and very low-income residents based on the priorities outlined in its five-year Consolidated Plan and annual Action Plan.