Home investment partnerships program

The Department of Housing and Urban Development's Assistant Secretary for Community Planning and Development awarded the City of Rocky Mount, North Carolina $358,801.02 under the Home Investment Partnerships Program (CFDA 14.239) on December 5, 2025.

The HOME program provides formula grants to states and local governments to fund affordable housing activities including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and rehabilitation or construction of rental housing, and tenant-based rental assistance to low-income households. Assisted housing must remain affordable for 5, 10, 15, or 20 years depending on the activity type and amount of HOME funding contributed.

Rocky Mount will perform work at North Carolina Wesleyan College in Rocky Mount. The award period extends through September 30, 2034. As a participating jurisdiction under HOME, Rocky Mount may undertake projects directly or pass funds to developers, owners, or other affordable housing partners. The city must maintain records documenting program compliance for the most recent five-year period and preserve affordability documentation for five years beyond the required retention period.

HOME is a need-based formula program established in 1990. Funds are distributed annually to qualifying participating jurisdictions according to statutory formula: forty percent to states and sixty percent to localities. Since inception, HOME has distributed over $41 billion to create more than 1.388 million affordable housing units and provide tenant-based rental assistance to more than 422,000 households nationwide.