Home investment partnerships program

The City of Great Falls received a $231,257.10 HOME Investment Partnerships Program (CFDA 14.239) formula grant from the U.S. Department of Housing and Urban Development (HUD) on December 17, 2024. This grant is intended to fund 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. The HOME program was established in 1990 to expand the supply of affordable housing for low- and very low-income Americans. Since its inception, the program has distributed over $40 billion to create more than 1.37 million units of affordable housing and provide rental assistance to over 405,000 households nationwide. The City of Great Falls, as a participating jurisdiction, will use these HOME funds to directly undertake or provide to developers and housing partners the specified affordable housing activities, which must meet certain income targeting and affordability requirements over a 5- to 20-year period.