This bill modernizes and expands the HOME Investment Partnerships Program, which funds affordable housing development across the country. Key changes include removing deadlines that pressure jurisdictions to quickly commit funds, giving small affordable housing owners more flexibility in selecting tenants, and establishing a new $2 billion annual loan guarantee program through HUD to help local governments finance affordable housing projects when other financing isn't available. The bill also relaxes restrictions on Community Housing Development Organizations to improve program flexibility and makes technical updates to outdated law references and definitions while increasing certain funding thresholds from $500,000 to $750,000. Overall, the legislation aims to streamline the program's operations, reduce bureaucratic barriers, and increase financing options for affordable housing development.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.