Formula Grant NC19P04750126

The Fairmont Housing Authority received a $182,901 formula grant award from the U.S. Department of Housing and Urban Development's Public and Indian Housing Office under the Public Housing Capital Fund (CFDA 14.872), effective April 1, 2026, through March 31, 2030. This funding supports capital and management activities for public housing, including modernization, development, infrastructure improvements, and emergency repairs to maintain and enhance the housing authority's inventory serving low-income residents in Fairmont, North Carolina.

The Capital Fund formula grant enables eligible capital activities as outlined in 24 CFR Part 905 and approved five-year action plans, with permissible uses including construction and acquisition of public housing units, facility improvements, energy efficiency upgrades, and financing costs for standard and mixed-finance developments. As a formula-based allocation program, the funding amount was calculated by HUD using established formulas reflecting the housing authority's inventory characteristics, such as unit counts and building age, rather than through a competitive application process. The authority must comply with 2 CFR 200 Uniform Administrative Requirements and maintain accurate inventory data in HUD's Information Management System to support the program's oversight and audit requirements.