Each year, the City of Paramount receives Community Development Block Grant (CDBG) and HOME Investment Partnerships (HOME) funds from the United States Department of Housing and Urban Development (HUD). HUD requires the City to prepare the Consolidated Plan every five years along with an Annual Action Plan in order to receive certain grant funds. The Consolidated Plan provides HUD with a comprehensive assessment of the City’s housing and community development needs and outlines the City’s priorities, objectives, and strategies for the investment of CDBG and HOME funds to address these needs over the next five years. The Annual Action Plan describes how the City plans to implement the Consolidated Plan Strategic Plan goals via the investment of annual allocations of CDBG and HOME funds from HUD. It identifies available resources, annual goals, projects and activities on an annual basis. 

CDBG funds provide resources to improve the physical, economic, and social conditions in the community, principally to benefit low- and moderate-income residents. While spending priorities are determined at the local level, the program is primarily intended to provide affordable housing, establish and maintain a suitable living environment, and expand economic opportunities for low- and moderate-income residents. HOME funds are intended to preserve existing affordable housing and to expand affordable housing options in the community.

The Planning Department is responsible for administering these funds, which are allocated to programs and services of the Planning Department, Public Safety Department, and Public Works Department.