Formula Grant M25MC080201

The City of Aurora received $1,073,087.92 in formula grant funding from the U.S. Department of Housing and Urban Development (HUD) under the Home Investment Partnerships Program (CFDA 14.239), awarded on March 13, 2026, with a completion date of September 30, 2034. This funding supports the development and preservation of affordable housing for low- and very low-income households through activities including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and construction of rental housing, and tenant-based rental assistance. As a participating jurisdiction, Aurora utilizes these funds to expand the supply of affordable housing within its jurisdiction through direct project implementation or partnerships with developers and nonprofit organizations.

Under the HOME program, all assisted housing must meet federal income targeting and affordability requirements, with properties remaining affordable to eligible households for five to twenty years depending on the activity type and funding contribution level. The City of Aurora must maintain compliance with 24 CFR Part 91 requirements, including submission of Consolidated Plans and annual action plans to HUD for review, and must retain records documenting program compliance for the past five years plus an additional five years beyond the affordability period. Since the program's establishment in 1990, HOME has distributed over $41 billion nationally to create more than 1.38 million affordable housing units and provide rental assistance to over 422,000 households.