Summary

The Forest City Housing Authority received a $587,371 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 the Authority's public housing portfolio, including modernization of existing units, infrastructure improvements, emergency repairs, energy efficiency upgrades, and related financing activities such as debt service payments. The Capital Fund formula allocations are calculated annually based on characteristics of each Public Housing Agency's inventory, such as unit counts, building age, and construction costs, rather than through competitive application processes.

The Forest City Housing Authority will use these funds to address capital needs and operational improvements for its low-income housing portfolio serving residents in Forest City, North Carolina. Eligible activities under 24 CFR Part 905 may include development of additional public housing units, comprehensive modernization of existing facilities, management improvements, and emergency work or repairs necessitated by non-presidentially declared natural disasters. All expenditures must be documented and budgeted in accordance with 2 CFR 200 Uniform Administrative Requirements, with project completion required by March 31, 2030.