Home investment partnerships program

The City of Paramount received a formula grant award of $251,750.43 from the Department of Housing and Urban Development's Assistant Secretary for Community Planning and Development under the HOME Investment Partnerships Program (CFDA 14.239), obligated on September 18, 2025, with a completion date of September 30, 2034. This funding supports the development and preservation of affordable housing for low- and moderate-income residents through a range of eligible activities, including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and rehabilitation of rental housing, and tenant-based rental assistance.

As a participating jurisdiction under the HOME program, the City of Paramount will deploy these funds to finance affordable housing initiatives that meet federally mandated income targeting and affordability requirements. Housing units assisted through this award must maintain affordability for 5 to 20 years depending on the type of activity and the extent of HOME funding contribution. The city may undertake housing projects directly or partner with developers and other organizations to implement these activities. This represents one of Paramount's recurring annual allocations under the HOME formula grant program, which has consistently supported the municipality's housing and community development priorities since at least 2021.