Formula Grant TX01P04150126

The Olney Housing Authority received a $541,428 formula grant award from the U.S. Department of Housing and Urban Development (HUD), Public and Indian Housing Office, under the Public Housing Capital Fund (CFDA 14.872) program. The award, dated April 1, 2026, with a completion date of March 31, 2030, supports capital and management activities for public housing modernization, development, and infrastructure improvements. As a direct prime award with no sub-awardees, the Authority will deploy these funds exclusively for eligible capital activities as specified in its HUD-approved 5-Year Action Plan or for emergency and disaster-related work, potentially including infrastructure upgrades, energy efficiency improvements, and management enhancements across its public housing inventory.

The Public Housing Capital Fund operates as a formula-based allocation program that annually distributes federal capital funds to approximately 2,770 Public Housing Agencies nationwide serving nearly one million public housing units. The program specifically funds modernization, development, infrastructure repairs, energy efficiency upgrades, and related financing activities. All recipients must comply with 2 CFR 200 Uniform Administrative Requirements and maintain accurate public housing inventory data in HUD's Information Management System. Olney Housing Authority's capital grant funding, combined with its concurrent Operating Fund support, enables the organization to sustain and enhance affordable housing services for low-income residents in the Olney, Texas service area over the four-year performance period.