H.R. 4477: Preservation and Reinvestment Initiative for Community Enhancement Act

This bill, known as the Preservation and Reinvestment Initiative for Community Enhancement Act (PRICE Act), aims to establish a grant program to improve manufactured housing communities. Below are the key components of the bill:

Manufactured Housing Community Improvement Grant Program

The bill proposes to amend existing housing legislation to create a grant program specifically for the purposes of enhancing manufactured housing communities. This program would be managed by the Secretary of Housing and Urban Development (HUD).

Definitions

• Community Development Financial Institution (CDFI): An institution certified by the Department of the Treasury to provide capital to underserved markets.
• Eligible Manufactured Housing Community: A community that is affordable to low- and moderate-income persons and is either resident-owned or maintained to remain affordable.
• Eligible Recipient: Entities that can receive grants include eligible manufactured housing communities, local governments, housing authorities, resident-owned communities, nonprofits, Indian Tribes, and others.
• Resident Health, Safety, and Accessibility Activities: Activities that involve the reconstruction or repair of housing to ensure health and safety and address accessibility for residents with disabilities.

Grant Establishment

The Secretary will implement a competitive grant program to award funds to eligible recipients for developing or improving eligible manufactured housing communities.

Eligible Projects

Grant funds can be used for various projects that improve infrastructure and living conditions within eligible manufactured housing communities, including:

• Developing community infrastructure and land improvements.
• Reconstructing, repairing, and replacing homes within these communities.
• Planning for community development.
• Activities aimed at enhancing resident health and safety.
• Providing resident services such as eviction prevention and assistance with home purchases.

Funding Priorities

When awarding grants, priority will be given to projects that benefit low- and moderate-income residents and aim to maintain long-term affordability of housing in these communities.

Waivers and Regulations

The Secretary may waive certain legal or regulatory requirements to facilitate the use of grant funds, except for provisions related to fair housing, nondiscrimination, labor standards, and environmental protection.

Implementation and Funding

The bill authorizes the appropriation of necessary funds to carry out the grant program. It also allows for specific funds to be set aside for grants to Indian Tribes and housing entities recognized by tribes.

Relevant Companies

None found.