Owensboro outlines 5 year plan for affordable housing and community development

The Owensboro Board of Commissioners has initiated a comprehensive five-year plan aimed at addressing affordable housing and economic development needs within the community. During their regular meeting on May 20, 2025, officials discussed the importance of public engagement and data-driven assessments in shaping the plan, which will guide the allocation of community development block grants and home partnership grants.

City representatives highlighted that the plan is currently pending approval from the U.S. Department of Housing and Urban Development (HUD), with expectations of receiving allocation details soon. The consolidated plan will serve as a critical tool for assessing local housing needs and will be supported by an annual action plan to ensure ongoing community development efforts.

Key components of the plan include a thorough needs assessment, market analysis, and strategies to promote homeownership, economic growth, and neighborhood preservation. The proposed boundaries for the Monarch Neighborhood Revitalization Strategy Area (NRSA) were also outlined, which is essential for targeting resources to economically disadvantaged communities.

Statistics presented during the meeting revealed that approximately 60% of the 2,000 residents in the designated area are classified as low to moderate income, with a median household income of $36,525. Furthermore, 34.2% of residents live below the poverty line, underscoring the urgent need for targeted interventions.

The city plans to continue gathering public comments to refine the plan before submission to HUD, ensuring that community voices are heard in the development process. This initiative represents a significant step towards improving housing affordability and fostering economic opportunities for Owensboro residents.