The U.S. Department of Housing and Urban Development has released a proposed rule that submits regulations for governing the Housing Trust Fund, established by HERA in 2008 to provide grants to State governments to increase and preserve the supply of rental housing for extremely low- and very low-income families. HUD proposes to codify the HTF regulations in a new subpart of 24 CFR part 92, which contains the regulations for HUD’s HOME program. Many of the program requirements applicable to the HOME program are applicable to the HTF. In addition, the HTF implements the Department’s commitment to further sustainable affordable housing available for extremely low-income households, by requiring energy and water-efficiency features in all HTF-assisted units, and promoting transit-oriented development. HUD’s announcement includes a summary of the proposed general provisions, definitions, allocation formula, allocation plan and other details within the proposed regulations. Read More…
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