Home investment partnerships program

The City of Waterloo Community Development Division received a formula grant award of $473,739.44 from the U.S. Department of Housing and Urban Development (HUD), Assistant Secretary for Community Planning and Development, under the Home Investment Partnerships Program (CFDA 14.239). The award was obligated on September 18, 2025, with an ultimate completion date of September 30, 2034. As a participating jurisdiction, the City of Waterloo will deploy these HOME funds to support affordable housing activities serving low- and moderate-income residents in Waterloo, Iowa.

The funded activities include rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and rehabilitation of rental housing, and tenant-based rental assistance. All housing assisted through these funds must meet federal income targeting and affordability requirements, with units remaining affordable to low-income households for periods ranging from 5 to 20 years depending on the activity type and level of HOME funding contribution. The City of Waterloo, as an established HUD participating jurisdiction, will implement these activities directly or through partnerships with developers and housing providers, consistent with its Consolidated Plan and Annual Action Plan requirements under 24 CFR Part 91.