Home investment partnerships program

The City of Lynchburg, Virginia received a Home Investment Partnerships Program (HOME, CFDA 14.239) formula grant award of $320,517.96 from the U.S. Department of Housing and Urban Development's Community Planning and Development division, obligated on September 16, 2025, with a completion date of September 30, 2034. This award enables the city to finance a range of affordable housing activities designed to serve low- and very low-income households, including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and construction of rental housing, and tenant-based rental assistance. The city may undertake these activities directly or distribute HOME funds to developers, nonprofit organizations, and community partners to implement affordable housing initiatives.

As a participating jurisdiction under the HOME program, the City of Lynchburg must ensure that all HOME-assisted housing meets federal income targeting and affordability requirements, with units remaining affordable to low-income households for 5 to 20 years depending on the activity type and level of HOME funding contribution. The city is required to submit Consolidated and Annual Action Plans to HUD, maintain compliance with applicable federal regulations (24 CFR Part 91), and retain records documenting program compliance and affordability periods in accordance with federal recordkeeping standards. These HOME funds represent a formula allocation distributed based on statutory criteria rather than through a competitive process.