The City of Montebello was awarded a $270,314.33 Home Investment Partnerships Program (CFDA 14.239) formula grant by the U.S. Department of Housing and Urban Development (HUD). This grant will be used to finance a variety 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. The grant funds must be used to benefit households with incomes at or below 80% of the area median income, with at least 90% of rental units and tenant-based rental assistance reserved for households at or below 60% of the area median income. The grant period extends from September 6, 2024 to September 30, 2033. The HOME program provides formula-based grants to state and local governments to expand the supply of affordable housing for low- and very low-income Americans. Eligible activities include both homeownership and rental housing projects, as well as direct rental assistance. The program aims to strengthen the capacity of state and local governments to design and implement affordable housing strategies tailored to local needs.