Bill > HR2747

This bill establishes a new grant and loan program administered by the Department of Housing and Urban Development (HUD) to support the development, creation, and preservation of affordable housing units. The program will provide funding to eligible entities such as local governments, tribes, housing developers, public housing agencies, and housing-focused organizations to create affordable housing in neighborhoods with key amenities like health centers, healthcare providers, grocery stores, child care facilities, pharmacies, and public transportation. Applicants will be required to submit applications explaining their proposed affordable housing project, with preference given to developments located near multiple community amenities or incorporating such amenities within the housing project. The Secretary of HUD will have discretion in selecting projects based on factors like the number of housing units, neighborhood boundaries, and local median income. The bill mandates a biennial survey of residents in these new affordable housing units to assess perceived benefits of their location and amenities, with results to be reported to congressional committees. The program is authorized $100 million annually from fiscal years 2025 to 2029, and importantly, does not prohibit recipients from seeking additional housing-related funding or receiving rental assistance. Qualifying affordable housing units must meet specific affordability and income targeting requirements established by the Cranston-Gonzalez National Affordable Housing Act.

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https://www.congress.gov/bill/119th-congress/house-bill/2747/all-info