Formula Grant M24MC360503

Award Date 9/8/24
Completion Date 9/30/33
Dollars Obligated $408K
Federal Grant Program
14.239
Assistance Type
Formula Grant
Place of Performance
Niagara Falls, NY 14301, USA
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The City of Niagara Falls, NY received a $407,849.29 formula grant award on September 8, 2024 under the U.S. Department of Housing and Urban Development's (HUD) Home Investment Partnerships Program (CFDA 14.239). The HOME program provides need-based grants to state and local governments to fund a variety of affordable housing activities, including rehabilitation of owner-occupied housing, assistance to homebuyers, acquisition and construction of rental housing, and tenant-based rental assistance.

As a HOME program grantee, the City of Niagara Falls will use the awarded funds to implement affordable housing strategies and initiatives that benefit low- and very low-income households, with at least 15% of the funding reserved for projects developed by Community Housing Development Organizations. The specific subrecipient activities are unknown at the time of the award, but HOME funds can be provided as grants, loans, loan guarantees, interest rate subsidies, or equity investments to developers, owners, or other partners.

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