Summary of Federal Formula Grant Award

The Brevard Housing Authority received a Public Housing Capital Fund (CFDA 14.872) formula grant award of $575,524 from the U.S. Department of Housing and Urban Development's Public and Indian Housing Office, effective April 1, 2026 through March 31, 2030. This funding supports capital and management activities for public housing units serving low-income residents in Brevard, North Carolina, including modernization, infrastructure improvements, development, and facility maintenance as specified in the authority's approved 5-year action plan or HUD-approved emergency work requests.

The Capital Fund program provides formula-based allocations to approximately 2,770 Public Housing Agencies nationwide managing nearly one million public housing units. As a formula grant rather than a competitive award, the funding amount is calculated based on established factors reflecting the awardee's public housing inventory characteristics, including unit counts, building age, and construction costs. The Brevard Housing Authority must comply with 2 CFR 200 Uniform Administrative Requirements and maintain accurate inventory documentation in HUD's Information Management System to retain eligibility. Capital funds may be obligated through the award period, though obligation deadline extensions are permissible if requested prior to expiration; however, expenditure deadlines cannot be extended.