The U.S. Department of Housing and Urban Development (HUD) awarded a $353,987.51 HOME Investment Partnerships Program (CFDA 14.239) formula grant to the City of Terre Haute Redevelopment Department on September 12, 2024. This funding is intended to support the department's efforts to expand affordable housing opportunities and revitalize low- and moderate-income neighborhoods in Terre Haute, Indiana.
The HOME Program provides formula grants to state and local governments to finance a range of affordable housing activities, including rehabilitation of owner-occupied homes, assistance to homebuyers, acquisition/rehabilitation/construction of rental housing, and tenant-based rental assistance. The City of Terre Haute Redevelopment Department plans to use these grant funds for projects that meet income targeting and affordability requirements, ensuring that the assisted housing units benefit households at or below 80% of the area median income. At least 15% of the HOME funds must be reserved for projects developed by Community Housing Development Organizations to encourage grassroots community involvement.