Formula Grant M24SG360100

The Home Investment Partnerships Program (HOME) (CFDA 14.239), administered by the U.S. Department of Housing and Urban Development, awarded a $23,907,179 formula grant on September 24, 2024. The grant provides funding to state and local governments to expand the supply of affordable housing, particularly rental housing, for low- and very low-income Americans. The grant recipients use the funds to acquire, rehabilitate, or construct affordable rental and owner-occupied housing, provide homebuyer assistance, and offer tenant-based rental assistance. Key activities include rehabilitation of owner-occupied housing, assistance to homebuyers, and rental housing development and rental assistance. Grant recipients must reserve at least 15% of funds for projects owned, developed, or sponsored by Community Housing Development Organizations (CHDOs) and can use up to 10% for program administration.

The grant has resulted in multiple sub-awards to state and local government entities, as well as non-profit organizations, to implement specific affordable housing initiatives. These sub-awards, ranging from approximately $100,000 to over $2 million, support activities such as tenant-based rental assistance, housing rehabilitation, manufactured housing replacement, and homebuyer down payment assistance programs across New York State.