Formula Grant NY28P01650126

The Binghamton Housing Authority received a Formula Grant award of $1,834,590 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 award supports capital and management activities for public housing infrastructure improvements serving the Binghamton, New York area. Eligible uses of these funds include modernization of existing public housing units, development and acquisition of additional affordable housing inventory, infrastructure upgrades, energy efficiency improvements, management enhancements, emergency repairs, and financing activities related to debt service and customary financing costs for public housing developments.

The Capital Fund allocation is calculated using a formula-based methodology established by HUD that reflects each Public Housing Agency's inventory characteristics, including unit counts, building age, and construction costs, rather than through competitive application processes. The Binghamton Housing Authority must utilize these funds in accordance with an approved 5-Year Action Plan and 24 CFR Part 905 regulations, with all expenditures supporting low-income housing services. The Authority is required to maintain accurate public housing inventory data in HUD's Information Management System and comply with 2 CFR 200 Uniform Administrative Requirements for Federal Awards, including annual certification of inventory information and maintenance of detailed budgets and cost records for HUD and independent auditor review.