Formula Grant M25DC370209

The City of Concord received a formula grant award of $1,238,487.98 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) effective February 24, 2026, with a completion date of September 30, 2034. This award will support affordable housing activities in Concord, North Carolina, consistent with the HOME program's mandate to expand the supply of affordable housing for low- and very low-income households.

The funding may be deployed across a range of affordable housing activities, including rehabilitation of owner-occupied housing, homebuyer assistance programs, acquisition and rehabilitation or construction of rental housing, and tenant-based rental assistance. As a participating jurisdiction, the City of Concord will coordinate these activities either through direct implementation or by providing funds to developers, nonprofit organizations, and other community partners. All HOME-funded projects must comply with income targeting and affordability requirements, with assisted housing remaining affordable to low-income households for five to twenty years depending on the specific activity type and level of HOME funding contribution. The city is required to maintain comprehensive records documenting program compliance and affordability periods as prescribed under 24 CFR Part 91.