Big Updates: $2,500 Credit, Housing Grants, And More Benefits!
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4. New Efforts On Increasing Housing Supply
The U.S. Treasury Department announced new financial support to make housing more affordable for low-income families. These efforts include:
1) New instructions for the American Rescue Plan's (ARP) State and Local Fiscal Recovery Funds (SLFRF) to help people use leftover money to build affordable housing easier.
2) New explanations for the Emergency Rental Assistance (ERA) program which will allow eligible recipients to use remaining funds for various purposes to support affordable housing for very low-income families.
3) Prolonged help from the Federal Financing Bank (FFB) to a project with HUD and local agencies to cut costs in making and keeping affordable homes.
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