Home investment partnerships program

The City of Reading received a $890,063.45 formula grant 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), awarded September 17, 2025, with completion anticipated by September 30, 2034. The funding supports affordable housing development and preservation activities in Reading, Pennsylvania, including housing rehabilitation for owner-occupied units, homebuyer assistance programs, and acquisition and rehabilitation of rental housing. All assisted housing units must meet HUD income targeting requirements and remain affordable for 5 to 20 years depending on the specific activity type and funding contribution level.

As a participating jurisdiction under the HOME formula grant regime, the City of Reading is required to submit five-year Consolidated Plans and annual Action Plans for HUD review within 45 days of submission, and must maintain program records for five years beyond the affordability periods. This award represents a portion of the city's substantial federal footprint in community development and housing, with HOME formula grants constituting a significant share of HUD's community development funding flowing to Reading across multiple program vehicles.