The City of Owensboro is applying for $10 million in funding to help develop affordable housing in the community.
City Manager Nate Pagan said at Tuesday’s Commission meeting the grant would come from the U.S. Department of Housing and Urban Development if awarded.
“If our application is approved and funded, we plan to issue a request for proposals for partners to co-develop affordable housing units in our community,” Pagan said.
They project the full cost of the project would be $13.5 million. Money from the city’s HOME funds would also come in to offset the remaining $3.5 million.
Pagan noted that the Department of Housing and Urban Development is only awarding the grant to a few applicants so it is highly competitive.
The municipal order to apply for the grant was approved unanimously by the Commissioners.
