Home investment partnerships program

The City of Corona received a formula grant award of $409,306.27 on September 25, 2025, from the 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 funds affordable housing activities including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and construction of rental housing, and tenant-based rental assistance. The ultimate completion date is September 30, 2034, allowing the city a nine-year implementation period to deploy these funds in Corona, California.

As a participating jurisdiction under the HOME program, the City of Corona may undertake eligible affordable housing activities directly or provide HOME funds to developers, nonprofit organizations, and other community partners. All housing assisted through HOME funding must meet federal income targeting and affordability requirements, with assisted units remaining affordable to low-income households for 5 to 20 years depending on the activity type and level of HOME funding contribution. The city is required to maintain detailed records for five years beyond the affordability retention periods and submit annual action plans and consolidated plans to HUD for review in accordance with applicable regulations.