Housing and Economic Development Act

This bill requires the Department of Housing and Urban Development and the Economic Development Administration to create an agreement to better coordinate their joint housing and economic development projects. The agreement would streamline application processes, standardize language in funding notices, reduce duplicate reporting requirements, and establish clear contact points for applicants. Additionally, the two agencies must share research and market data to support evidence-based decision-making. Within one year of enactment, the agencies must submit a report to Congress with recommendations for further improving their collaboration and removing barriers to joint projects.