Formula Grant M24MC320225

Award Date 9/25/24
Completion Date 9/30/33
Dollars Obligated $2.2M
Federal Grant Program
14.239
Assistance Type
Formula Grant
Place of Performance
Las Vegas, NV 89101, USA
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The U.S. Department of Housing and Urban Development (HUD) awarded the City of Las Vegas a $2,195,209.02 Formula Grant under the Home Investment Partnerships Program (CFDA 14.239) on September 25, 2024. This program provides need-based grants to state and local governments to fund affordable housing activities including rehabilitation of owner-occupied housing, homebuyer assistance, rental housing construction/rehabilitation, and tenant-based rental assistance.

The City of Las Vegas plans to use these HOME funds to directly undertake or provide assistance to developers and partners for a range of affordable housing projects and initiatives. At least 15% of the award must be reserved for projects sponsored by Community Housing Development Organizations. The city may also use up to 10% of the funding for program administration. Key expected outcomes include increasing the supply of affordable rental and owner-occupied housing units and providing rental assistance to low-income households within the City of Las Vegas.

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