SPUR Housing Act

Summary

Creates a HUD Emerging Developer Fund Program that gives competitive grants to nonprofit housing organizations and certified community development financial institutions (CDFIs) to help new or undercapitalized housing developers build affordable housing. Grants can pay for predevelopment financing, loan loss reserves and credit enhancements, capitalizing funds, training and technical assistance, mentoring and partnerships with colleges, and other HUD‑approved capacity building. The program must be set up within one year of enactment and is authorized at $50 million per year for fiscal years 2026–2030; no single grantee may receive more than 15% of total annual appropriations.

• Creates a HUD Emerging Developer Fund that awards competitive grants to nonprofits and CDFIs to support new affordable housing developers.
• Grants may fund financing tools (predevelopment loans, loan loss reserves, credit enhancements) and capacity building (training, TA, mentoring).
• Program must be established within one year of enactment and coordinates with the Treasury to align with the CDFI Fund.
• Authorizes $50 million per year for FY2026–2030; awards to any single organization cannot exceed 15% of annual appropriations.
• Prioritizes applicants serving undercapitalized or limited‑experience developers and projects in distressed or high‑opportunity areas.
• Applicants must show plans, past work, partnerships (including with higher education), ongoing assistance, and outcome tracking.
• Funds go to intermediary organizations (nonprofits and CDFIs), not directly to individual developers or households.
• The program focuses on long‑term capacity building rather than one‑time project subsidies.