Formula Grant M25DC320234

The City of Reno received a $1,375,820.23 formula grant award from the Department of Housing and Urban Development (HUD) under the Home Investment Partnerships Program (CFDA 14.239) on September 19, 2025. This award supports the development and preservation of affordable housing through activities including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and construction of rental housing, and tenant-based rental assistance to low-income households. The grant obligates funds through September 30, 2034, ensuring a multi-year implementation timeline consistent with the program's affordability requirements, which mandate that HOME-assisted housing remain affordable to low-income households for 5 to 20 years depending on the activity type and funding contribution level.

As a Participating Jurisdiction under the HOME program, the City of Reno may undertake affordable housing projects directly or provide the formula-allocated funds to developers, nonprofit organizations, and community partners for implementation. The city's Finance Department Division will administer the grant in accordance with HUD's regulatory framework, including compliance with 24 CFR Part 91 requirements and submission of Consolidated Plans and annual action plans documenting program activities and outcomes. The formula allocation to Reno reflects the statutory distribution model whereby 60 percent of national HOME funds are directed to localities and 40 percent to states.