Federal Grant Award Summary

The Statesville Housing Authority Inc. received a $2,227,316 formula grant award from the U.S. Department of Housing and Urban Development's (HUD) Public and Indian Housing Office under the Public Housing Capital Fund program (CFDA 14.872), effective April 1, 2026 through March 31, 2030. This award supports capital and management activities for the Authority's public housing portfolio, with eligible uses including modernization and infrastructure improvements to existing public housing units, development and acquisition of additional units, financing activities such as debt service payments, and emergency repairs. The formula-based allocation reflects the Authority's public housing inventory characteristics and serves to enhance the quality and sustainability of affordable housing for low-income residents in Statesville, North Carolina.

The Public Housing Capital Fund operates as an annual formula allocation program serving approximately 2,770 Public Housing Agencies (PHAs) nationwide that manage nearly one million public housing units across all 50 states and territories. All capital funds must be obligated and expended in accordance with an approved 5-year action plan, with eligible activities defined in 24 CFR 905.200. Recipients must comply with 2 CFR 200 Uniform Administrative Requirements, maintain accurate inventory data in HUD's Information Management System, and submit to regular audits. The award represents HUD's ongoing commitment to supporting local housing authorities in their mission to provide safe, decent, and affordable housing to vulnerable populations including elderly individuals, families with children, and persons with disabilities.