Sponsors (5)
The bill aims to expand affordable housing and revitalize distressed commercial areas—using HOME funds, funding priorities, and regulatory flexibility to speed projects and preserve long-term affordability—but does so by reallocating limited HOME dollars, creating scale thresholds that favor larger jurisdictions, and introducing cost and oversight risks that may limit benefits to the neediest communities.
Low- and moderate-income households gain new affordable rental and ownership units (including units at or below 80% and 60% AMI) through conversion of blighted commercial buildings, with support for community land trusts and other long-term affordability mechanisms to preserve affordability beyond initial construction.
Economically distressed areas and designated Opportunity Zones receive funding priority, directing investment toward local economic revitalization and blight removal in communities that need it.
Local and state governments get targeted flexibility via limited waiver authority (excluding fair housing, labor, and environmental protections) to speed project implementation and reduce regulatory delays.
Up to $100 million of HOME program funds are redirected to this initiative, reducing HOME funds available for existing HOME projects or formula allocations and potentially limiting other affordable housing activities.
The large minimum grant size ($1 million) may favor larger jurisdictions or bigger projects and restrict access for smaller or rural communities that cannot meet the threshold.
Waiver authority, if used broadly, could reduce procedural protections and community input, weakening oversight despite enumerated exceptions.
Based on analysis of 2 sections of legislative text.
Creates a HUD pilot to award grants for converting vacant commercial/industrial buildings into attainable housing using up to $100M of excess HOME funds in FY2027–FY2031.
Introduced September 26, 2025 by Sam T. Liccardo · Last progress September 26, 2025
Creates a HUD pilot program that gives competitive grants to local jurisdictions to convert vacant commercial and industrial buildings into attainable housing. The pilot can draw up to $100 million per year from excess HOME Program funds in fiscal years 2027–2031, with individual grants between $1 million and $10 million (when $100M is available), and requires a post‑pilot study and report to Congress.