May 16, 2022

HUD: Actions to Increase Affordable Housing Supply and Lower Housing Costs Higlighted

U.S. Housing and Urban Development (HUD) Secretary Marcia L. Fudge on Monday traveled to Columbus, Ohio to announce actions in the Biden-Harris Administration Action Plan to Ease the Burden of Housing Costs, The Plan is a set of legislative and administrative steps aim to close the housing supply gap within the next five years.

Secretary Fudge highlighted the Plan at an affordable housing development that is under construction in Columbus, Ohio. She was joined by U.S. Senator Sherrod Brown, U.S. Congresswoman Joyce Beatty, and Columbus Mayor Andrew Ginther.

“The Housing Supply Action Plan is the latest step HUD, and the Biden-Harris Administration are taking to expand our nation’s supply of affordable housing,” said Secretary Fudge.“This plan will ease costs for families across the country and give communities the tools they need to make more affordable housing available to residents.”

Under the Plan – which builds on the steps the Administration announced last September to build and rehabilitate 100,000 homes over the next three years – the Administration will reward jurisdictions that have reformed zoning and land-use policies; deploy new financing mechanisms to build and preserve more housing where financing gaps currently exist; expand and improve existing forms of federal financing; ensure that more government-owned supply of homes and other housing goes to owners who will live in them; work with private sector to address supply chain challenges and finish construction in 2022 on the most new homes in any years since 2006.

HUD will play a central role in carrying out these actions, including through the following immediate next steps:

This post was originally published here.