SPUR Housing Act

S 2915, the SPUR Housing Act, establishes a new $50 million annual grant program (2026-2030) to support emerging developers of affordable housing. The bill directs the Department of Housing and Urban Development (HUD) to award competitive grants to nonprofit housing organizations and community development financial institutions (CDFIs), which must use funds to provide emerging developers - defined as those with limited experience, capital, or focus on distressed communities - with financing (like predevelopment loans), capacity-building training, and technical assistance. Key provisions require grantees to help developers secure capital, manage budgets, navigate tax credits, and build partnerships with institutions of higher education. The program prioritizes support for developers targeting affordable housing projects in distressed communities and high-opportunity areas.