Formula Grant M24MC530201

This $1,161,022.07 HOME Investment Partnerships Program (CFDA 14.239) formula grant, awarded by the U.S. Department of Housing and Urban Development (HUD) to the City of Spokane on August 30, 2024, will be used to fund a variety of affordable housing activities. The grant supports the rehabilitation of owner-occupied housing, assistance to homebuyers, acquisition and rehabilitation or construction of rental housing, and tenant-based rental assistance. Participating jurisdictions must use at least 15% of HOME funds for projects owned, developed, or sponsored by Community Housing Development Organizations, and up to 10% can be used for program administration. The grant is expected to benefit households with incomes at or below 80% of the area median income, with 90% of occupants in rental units or receiving tenant-based assistance having incomes at or below 60% of the area median. The grant's period of performance extends through September 30, 2033.