Referred to the Committee on Financial Services, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Community Parks Revitalization Act authorizes the Department of Housing and Urban Development to establish a competitive grant and loan program helping local governments invest in park improvements, recreation programs for veterans and at-risk youth, and long-term park planning. Eligible applicants are primarily local governments in metropolitan areas (with limited rural participation), and most must provide matching funds of at least 43% from state, private, or in-kind sources, though this requirement can be waived for disadvantaged communities. The bill prioritizes projects serving low-income areas with health and environmental benefits, requires recipients to develop five-year maintenance and recovery plans, and establishes a separate loan program for revenue-generating park infrastructure projects of $20 million or more. The legislation authorizes $50 million annually from 2026 through 2030, with allocations capped at 10% for innovation programs, 3% for planning grants, and 2% for projects in U.S. territories, while loans can cover up to 49% of project costs at Treasury-equivalent interest rates with repayment periods up to 35 years. The Secretary must report to Congress biennially on job creation, project outcomes, and overall program effectiveness.
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