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HUD SEEKS COMMENTS ON PROPOSED HOUSING TRUST FUND RULES

Friday, October 29, 2010 - 1:45AM

The Department of Housing and Urban Development (HUD) today published proposed regulations governing the Housing Trust Fund (HTF). The Housing and Economic Recovery Act established the HTF to provide states with grants to preserve and expand the rental housing supply and increase homeownership for extremely low- and very low-income families. HUD said the HTF will operate much like the HOME program, with formula grants used to develop affordable housing units, and that both programs require the same grantee administration and HUD oversight functions. The agency proposes codifying the HTF regulations into a new subsection of the HOME program regulations to streamline program requirements for grantees. The proposed rule includes general provisions for the Housing Trust Fund as well as definitions, the allocation plan and grantee requirements. Comments on the proposed rule are due by December 28.

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