S 3067, the Innovation Fund Act, establishes a competitive grant program administered by the Department of Housing and Urban Development (HUD) to help eligible cities, counties, and tribes increase local housing supply. The program provides annual grants (ranging from $250,000 to $10 million) to entities that have demonstrated improved housing supply growth, with priority given to innovative zoning reforms and initiatives that expand "attainable housing" (housing serving households at 60-120% of area median income). Grants can fund activities like revising parking requirements, eliminating restrictive zoning, streamlining permitting, and creating mixed-income developments. The bill authorizes $200 million annually (adjusted for inflation) for fiscal years 2027-2031 and explicitly states it does not override local zoning laws or affect existing housing program requirements.
HR 2747, the Healthy Affordable Housing Act, creates a HUD grant and loan program to fund affordable housing developments in neighborhoods lacking such housing. It requires new or preserved affordable units to be located within one mile of at least two specific community amenities, such as health centers, grocery stores accepting food assistance, childcare providers, pharmacies, or public transit. The program authorizes $100 million annually (2025-2029) for eligible entities like local governments, tribes, or housing organizations, with preference given to projects near multiple required amenities. HUD must also conduct 10-year resident surveys to evaluate benefits of proximity to these amenities and report findings to Congress.
S 2718 amends the Community Development Banking and Financial Institutions Act of 1994 to expand liquidity support for community development financial institutions (CDFIs). The bill increases annual funding from $5 million to $20 million and allows the Fund to purchase CDFI loans, provide guarantees, or offer other support to boost CDFI liquidity. It also broadens eligibility to include non-CDFI organizations focused on community development, with priority given to those with experience in loan structures or serving underserved areas. The bill requires annual reports to Congress detailing how funds are used, including loan purchases, housing support, and impacts on CDFI competitiveness and liquidity.
HR 5077, the Strengthening Housing Supply Act of 2025, amends the Community Development Block Grant (CDBG) Program to allow local governments and community organizations to use CDBG funds for the **new construction of affordable housing**. This directly affects communities receiving CDBG funding by expanding eligible uses beyond rehabilitation to include building new homes meeting federal affordability standards. The key change adds "new construction of affordable housing" as a permitted activity under the CDBG program, referencing existing definitions from the Cranston-Gonzalez Act. The bill applies only to funds appropriated after its enactment, not to current or past allocations.
The RESIDE Act establishes a federal grant program to convert vacant, unsafe commercial or industrial buildings (like abandoned warehouses or hotels) into affordable housing. It provides up to $100 million annually for competitive grants to local governments and community organizations to renovate these properties into "attainable housing" for low-to-moderate income households (earning up to 120% of local median income). Priority is given to projects in economically distressed areas, designated opportunity zones, or communities with housing plans addressing specific needs. The program requires grants to fund property acquisition, renovation, and community land trusts, with a final report to Congress on its impact on housing access, blight removal, and local tax bases.
