The SPUR Housing Act directs the Department of Housing and Urban Development to establish a grant program providing funding to nonprofit housing organizations and community development financial institutions to support emerging developers—those with limited real estate experience and modest financial resources. These organizations would use the grants to offer financing products like predevelopment loans and loan loss reserves, provide technical training and capacity building, and help emerging developers navigate affordable housing and community development projects, particularly in low-income and underserved communities. The program prioritizes organizations with a track record of supporting emerging developers and gives preference to those focusing on distressed neighborhoods and high-opportunity areas. The legislation authorizes $50 million annually for fiscal years 2026 through 2030, with no single organization able to receive more than 15 percent of appropriated funds in any year. The HUD Secretary must establish the program within one year of the bill's enactment and coordinate it with similar federal programs.
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