Project Turnkey Act
Housing and Community Development
house
senate
president
Introduced on May 8, 2024 by Suzanne Bonamici
Legislation Details
- Establishes a Project Turnkey Program under the HOME Investment Partnerships Act.
- Aims to leverage vacant hotels and motels for housing and enhance national shelter capacity.
- Eligible entities can receive funds for various activities related to housing and shelter.
- Allows up to 15% of funds for administrative and planning costs.
- Permits up to 5% of funds for operating expenses of community housing development organizations and nonprofits, contingent on capacity development.
- Eligible entities may subgrant received amounts if they are public entities.
- Funds must supplement, not replace, state or local funding for housing activities.
- Authorizes $1 billion annually for the program, with funds available until 2034.
- Allocates funds primarily to grantees from fiscal year 2024, with specific amounts set aside for technical assistance and administration.
- Waivers for certain requirements of existing housing laws may be granted to expedite fund use.
- Exempts the program from specific cost limits, commitment requirements, and matching requirements.
- Defines “qualifying individuals or families” as those experiencing homelessness or at risk of homelessness, among other criteria.
- Lists eligible activities including rental assistance, supportive services, acquisition and development of shelter units, and rehabilitation of vacant properties.
Last updated 8/17/2024