Affordable Housing Grants for Communities with Major Workforce Growth.
This Act establishes a grant program to fund affordable housing development in areas experiencing significant workforce expansion due to major federal infrastructure and technology investments. The program encourages local governments to streamline zoning and regulatory processes to speed up construction. Funding for this initiative comes from $3 billion in previously unspent COVID-19 relief funds.
Key points
3 billion dollars in unspent COVID relief funds will be redirected to finance new affordable housing projects.
Local governments must commit to reducing bureaucratic hurdles (like zoning laws and parking minimums) to qualify for construction grants.
Funds can be used to convert vacant office buildings into residential units and support public-private housing partnerships.
Expired
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