Formula Grant M25MC170207

The City of Peoria received a $596,655.96 formula grant award on January 14, 2026, under the Home Investment Partnerships Program (CFDA 14.239), administered by the U.S. Department of Housing and Urban Development's Assistant Secretary for Community Planning and Development. This award will support the city's efforts to expand the supply of affordable housing for low- and very low-income residents through September 30, 2034. The funding enables Peoria to undertake housing activities including rehabilitation of owner-occupied housing, homebuyer assistance programs, acquisition and construction of rental housing, and tenant-based rental assistance.

As a formula grant recipient, the City of Peoria is required to develop and implement housing strategies through its Consolidated Plan and Annual Action Plans submitted to HUD, with all assisted housing remaining affordable to low-income households for five to twenty years depending on the activity type. The city may deliver these services directly or through sub-award arrangements with nonprofit organizations, developers, and community partners. Award recipients must maintain records documenting compliance with program requirements for a minimum of five years, with additional record retention required for affordability compliance periods extending five years beyond the required period.