Home investment partnerships program

The City of Racine received $479,767.40 in formula grant funding 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), awarded September 24, 2025, with a completion date of September 30, 2034. This allocation supports the City of Racine's affordable housing initiatives, including rehabilitation of owner-occupied housing, homebuyer assistance, acquisition and rehabilitation of rental housing, and tenant-based rental assistance to low-income households. The funding is part of HUD's formula-based distribution mechanism, whereby 60 percent of annual HOME appropriations are allocated to localities; the City of Racine is designated as a participating jurisdiction eligible to receive these recurring annual allocations.

Under the HOME program framework, the City of Racine must ensure that all assisted housing meets income targeting and affordability requirements, with affordability periods ranging from 5 to 20 years depending on the activity type and level of HOME funding contribution. The city may undertake HOME-funded projects directly or provide funds to developers, owners, and other affordable housing partners. This award reflects the City of Racine's established role within Wisconsin's federal grant administration structure as a direct HUD recipient; the city's broader HOME portfolio has historically funded substantial affordable housing production and rental assistance delivery across the jurisdiction.