S. 3169: Unleashing Needed Local Options to Construct and Keep Housing Act

This bill, referred to as the "Unleashing Needed Local Options to Construct and Keep Housing Act" (or UNLOCK Housing Act), proposes changes to the Housing and Community Development Act of 1974. The main objectives of the bill are to facilitate the construction of new residential housing, specifically aimed at low- and moderate-income individuals.

Key Changes Proposed

• Amendments to Grant Usage: The bill seeks to amend Section 105(a) of the Housing and Community Development Act. Specifically, it adds provisions that allow for new residential housing construction targeting low- and moderate-income persons in metropolitan cities, urban counties, states, and for certain tribal areas.
• Broadened Eligibility for Funds: The new provisions will enable these regions, which already receive federal funding under section 106 of the existing Act, to use those funds more flexibly for residential housing projects.
• Partnership Opportunities: The legislation encourages collaboration with neighborhood-based nonprofit organizations as well as other private or public nonprofit entities in the construction processes, possibly enhancing local involvement and support for housing initiatives.

Impact on Local Governments

The bill is designed to empower local governments and organizations by providing them with more options to address housing needs. By allowing the construction of new housing specifically aimed at low- and moderate-income persons, local entities can better respond to community demands for affordable housing.

Purpose

Ultimately, the intent of the bill is to stimulate the construction of housing that meets the needs of economically vulnerable populations, thereby potentially addressing issues such as housing shortages and affordability crises in various urban and metropolitan areas across the country.

Relevant Companies

• None found