Formula Grant NC19P04950126

The Morganton Housing Authority received a formula grant award of $987,228.00 from the U.S. Department of Housing and Urban Development's Public and Indian Housing Office under the Public Housing Capital Fund program (CFDA 14.872), effective April 1, 2026, with a completion date of March 31, 2030. This award supports capital and management activities for public housing operations in Morganton, North Carolina, including modernization, infrastructure improvements, development, emergency repairs, and management enhancements to the Authority's public housing inventory.

The Capital Fund allocation enables the Morganton Housing Authority to execute eligible activities specified in its 5-year action plan or HUD-approved emergency work, with particular focus on development and modernization activities that maintain and enhance the quality of approximately 2,770 Public Housing Agencies' portfolio nationwide serving nearly one million units. Funds may be applied toward property improvements, energy efficiency upgrades, debt service payments, and customary financing costs for public housing developments, all intended to serve low-income residents. The award calculation is based on a formula reflecting the Authority's public housing inventory characteristics rather than through competitive application, and obligated funds must be expended by the ultimate completion date of March 31, 2030.