Federal Aid and Land for Local Affordable Housing Development and Policy Reform.
This law establishes a new federal grant and low-interest loan program to help states and local governments increase housing supply and lower costs. It also directs the transfer of unused federal properties to local authorities for the development of affordable housing projects. The goal is to improve housing accessibility for citizens across all income levels, especially near jobs and transit.
Key points
Local governments can receive grants and low-interest loans to develop and implement plans aimed at increasing housing supply and affordability.
Priority is given to plans that reduce building barriers, prevent resident displacement, and focus on housing near transit and job centers.
Unused federal land and buildings will be transferred to local jurisdictions specifically for the construction of new, affordable housing developments.
Expired
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