Formula Grant M24MC060533

The U.S. Department of Housing and Urban Development (HUD) awarded a $4,933,181.66 HOME Investment Partnerships Program (CFDA 14.239) formula grant to the City of San Diego, California on September 23, 2024. This grant will be used to finance a range of affordable housing activities, including rehabilitation of owner-occupied housing, assistance to homebuyers, acquisition and rehabilitation or construction of rental housing, and tenant-based rental assistance. At least 15% of the funds must be reserved for projects owned, developed, or sponsored by Community Housing Development Organizations, and up to 10% can be used for program administration.

The City of San Diego has sub-awarded $3,844,077.00 of the HOME grant funds to the San Diego Housing Commission to manage the administration, oversight, and implementation of the program. This will include providing first-time homebuyer down payment assistance and supporting new construction, acquisition, and rehabilitation of multifamily rental housing. The HOME program aims to expand the supply of affordable housing and strengthen the city's ability to implement strategies for creating decent, safe, and affordable housing for low- and very low-income households.