Formula Grant NC19P08250126

The Town of Ayden received $576,491.00 in formula grant funding from the U.S. Department of Housing and Urban Development's Public and Indian Housing Office through the Public Housing Capital Fund (CFDA 14.872). The award, obligated on April 1, 2026, with a completion date of March 31, 2030, supports capital and management activities for public housing modernization, development, and infrastructure improvements within the town's jurisdiction. As a formula-based allocation program, the Capital Fund distributes resources to approximately 2,770 Public Housing Agencies nationwide based on established formulas reflecting inventory characteristics such as unit counts, building age, and construction costs, rather than through competitive application processes.

The Town of Ayden will utilize these funds for eligible capital activities as defined in 24 CFR 905.200, which may include public housing development, modernization, emergency repairs, energy efficiency upgrades, and related management improvements specified in the town's approved five-year action plan. The funding supports the town's strategic efforts to enhance community infrastructure and housing conditions for low-income residents. All expenditures must comply with 2 CFR 200 Uniform Administrative Requirements, and the town is required to maintain accurate inventory data and budget records subject to HUD review and independent audit.