Innovation Fund: Grants to Boost Local Affordable Housing Supply.
This Act establishes a competitive federal grant program designed to incentivize local governments to rapidly increase their housing supply, particularly for low and middle-income families. Eligible cities and counties that demonstrate objective growth in new housing can receive substantial funds (up to $10 million) to further community development and housing initiatives. The goal is to tackle housing affordability by rewarding local efforts to streamline regulations and promote denser, cost-effective construction.
Key points
Provides grants up to $10 million to local governments that successfully increase their housing stock, focusing on "attainable housing" for moderate-income households.
Funds can support initiatives like easing zoning restrictions, eliminating minimum parking requirements, or allowing denser development (e.g., duplexes, Accessory Dwelling Units).
The federal government cannot mandate local zoning changes; the program works by offering financial rewards for voluntary regulatory reforms that reduce construction costs.
Introduced
Citizen Poll