The Urban Development Dept, an agency of the City of Lincoln, Nebraska, received a $1,053,317.52 Formula Grant award on December 11, 2024 under the U.S. Department of Housing and Urban Development's (HUD) Home Investment Partnerships Program (CFDA 14.239). This program provides grants to state and local governments to expand the supply of affordable housing, particularly rental housing, for low- and very low-income Americans.
The Urban Development Dept will use these HOME funds to finance a range of affordable housing activities, including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and construction of rental housing, and tenant-based rental assistance. The department plans to reserve at least 15% of the award for projects owned, developed, or sponsored by Community Housing Development Organizations (CHDOs) to support local community involvement. Up to 10% of the funds may also be used for program administration. The quantifiable results will be tracked through HUD's HOME National Production Report, which provides data on metrics like allocations, commitments, disbursements, leveraging, and unit production.
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