Creates a HUD Emerging Developer Fund to give competitive grants to nonprofits and CDFIs to support emerging affordable‑housing developers, authorized at $50M/year for FY2026–2030.
Introduced December 16, 2025 by Emanuel Cleaver · Last progress December 16, 2025
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.