The Biden administration has launched the $85 million PRO Housing program to address housing shortages by providing grants to update housing plans and streamline development processes across 21 state and local governments.
Biden Administration Launches $85 Million PRO Housing Program to Combat Housing Shortages
The Biden administration has allocated $85 million to 21 state and local governments through the new Pathways to Removing Obstacles (PRO) to Housing program by HUD. This initiative aims to update housing plans revise land use policies and streamline development permits to increase affordable housing availability nationwide, according to the report of Fast Company.
The PRO Housing program, part of Biden’s strategy to address high housing costs includes plans to build 2 million affordable housing units. The grants come as a response to ongoing housing shortages driving up rental prices and contributing to inflationary pressures affecting Federal Reserve decisions.
Funding highlights include $6.7 million for Los Angeles County, $6.6 million for Hawaii, and $2.5 million for Ketchum, Idaho. Milwaukee will use $2.1 million to assist builders in developing vacant properties while Denver’s $4.5 million grant will fund utility connections for affordable housing developments.
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(photo: American City and County)
Biden Administration Faces Congressional Challenges for Housing Proposals Amid $300 Million Investment Effort
Simultaneously, Treasury Secretary Janet Yellen announced a $100 million investment from COVID-era community lending revenues into a new affordable housing financing fund. Additional grants totaling $100 million are scheduled for release this summer with another $100 million proposed for the 2025 fiscal year budget by President Biden.
However, Biden’s housing proposals, including tax credits for first-time home buyers and equity grants for disadvantaged families face challenges in Congress particularly in the Republican-controlled House of Representatives.
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