New initiatives from the Treasury Department will let unspent assistance dollars fund a wider range of housing projects.
The U.S. Treasury Department announced a new initiative that will let state and local governments use unspent Covid-19 relief funding for a broader range of affordable housing projects, reports David Lawder in Yahoo Finance.
As Lawder notes, “In the biggest of the moves, the Treasury said it would allow state and local governments to use unspent funds from the $350 billion State and Local Fiscal Recovery Fund to support housing projects serving families earning up to 120% of the area's median income, a big jump from 65% previously.”
According to Reuters calculations, this could unlock as much as $40 billion in unspent funds — an urgent proposition considering that “The 2021 American Rescue Plan Act stipulated that all of the state and local fiscal recovery funds must be obligated -- with contracts or other binding spending commitments -- by the end of 2024, and funds must be fully expended by the end of 2026.”
The Treasury is also extending support for a risk-sharing program between the Department of Housing and Urban Development (HUD) and local housing agencies that funds the rehabilitation and development of affordable housing units.
FULL STORY: US Treasury eases rules on unspent COVID aid to boost affordable housing
Federal Resilience Program a Lifeline for Affordable Housing Providers
The little-known Green and Resilient Retrofit Program funds upgrades and repairs that improve efficiency and comfort in existing housing stock.
Opinion: Local Governments Must Take Urgent Action on Affordable Housing Funds
Cities and states have until the end of the year to decide how to spend federal affordable housing dollars.
Opinion: The Housing Crisis Isn't Going Away With the Pandemic
As the housing crisis rages on, the housing assistance infrastructure put in place during the pandemic can provide a model for long-term aid programs.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
How Housing as a Financial Product Harms Communities
Institutional buyers who treat housing as an investment product become disconnected from the impacts of higher rents, displacement, and housing instability.
Blinded by the Light: When Brighter Headlights Decrease Safety
Bright LED headlights can create glare and reduce visibility for other drivers and pedestrians.
Study Links Covid and Poor Driving
The effects of the virus, including ‘brain fog,’ can make driving more difficult and dangerous.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
Smith Gee Studio
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service