Home investment partnerships program

Federal Formula Grant Award Summary

The City of Atlantic City, New Jersey received a formula grant award of $432,925.15 from the U.S. 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 was obligated on September 19, 2025, with a completion deadline of September 30, 2034. This funding supports the expansion of affordable housing supply in Atlantic City, with particular emphasis on rental housing for low and very low-income residents.

Under the HOME Investment Partnerships Program, the City of Atlantic City will utilize these federal funds to finance eligible housing activities, which may include rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and rehabilitation of rental housing, and tenant-based rental assistance. All housing units assisted through this funding must meet income targeting and affordability requirements, with assisted units remaining affordable for periods ranging from 5 to 20 years depending on the activity type and level of HOME program contribution. As a participating jurisdiction, Atlantic City is required to maintain compliance with program regulations, submit annual Action Plans and five-year Consolidated Plans for HUD review, and maintain records for five years beyond the affordability periods of all funded housing units.