Formula Grant M24MC120236

The Department of Housing and Urban Development (HUD) awarded the City of Homestead a $388,732.07 Formula Grant under the Home Investment Partnerships Program (CFDA 14.239) on September 26, 2024. The Home Investment Partnerships Program provides need-based grants to state and local governments to fund a range of affordable housing activities, including rehabilitation of owner-occupied homes, homebuyer assistance, rental housing construction and rehabilitation, and tenant-based rental assistance. The grant funds are intended to benefit low-income households, with at least 90% of rental units and tenant-based rental assistance serving those at or below 60% of the area median income. The City of Homestead, as the grant recipient, will use the funds to undertake affordable housing projects and provide direct assistance to eligible low-income residents, in alignment with the priorities outlined in their 5-year Consolidated Plan and annual Action Plan submitted to HUD. The specific subrecipient activities are unknown at the time of the award.