The Department of Housing and Urban Development's Assistant Secretary for Community Planning and Development awarded the Village of Kiryas Joel a formula grant of $440,861.21 under the Home Investment Partnerships Program (CFDA 14.239) on September 22, 2025, with a performance period through September 30, 2034. This funding supports a range of affordable housing activities designed to serve low-income households, including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and construction of rental housing, and tenant-based rental assistance. All housing assisted through this grant must meet specific income targeting and affordability requirements, with units remaining affordable to low-income households for periods ranging from 5 to 20 years depending on the activity type and level of HOME funding contributed.
As a participating jurisdiction, the Village of Kiryas Joel will deploy these resources to expand the supply of affordable housing within its community while strengthening local capacity to implement housing strategies consistent with federal program objectives. The Village is required to maintain comprehensive records of program activities and affordability compliance for five years beyond each project's affordability period, and must submit annual action plans and five-year Consolidated Plans for HUD review in accordance with applicable federal regulations (24 CFR Part 91). This formula allocation represents part of the ongoing nationwide HOME program, which has distributed over $41 billion since 1990 to create more than 1.38 million affordable housing units.