The SPUR Housing Act directs the Department of Housing and Urban Development to establish a competitive grant program by December 2025 that provides funding to nonprofit housing organizations and community development financial institutions to support emerging real estate developers. These grants can be used to offer financing assistance (such as loans and credit enhancements), capacity-building training, and technical assistance to help new and under-resourced developers launch affordable housing and community development projects, particularly in distressed and high-opportunity areas. The program prioritizes organizations with a track record of supporting emerging developers and those willing to work with undercapitalized developers focused on low-income neighborhoods. The legislation authorizes $50 million annually from fiscal years 2026 through 2030 for the program, with no single organization permitted to receive more than 15 percent of the total appropriated funds.
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