Housing and Economic Development Act

More coordination for jointly funded housing projects

If enacted, HUD and the Economic Development Administration would be required to make a memorandum of understanding or similar interagency agreement. The agreement would apply to projects approved by and funded by amounts from both agencies. Where practicable, they would coordinate application review and award timelines and standardize terms used in funding notices. They would also issue joint guidance to cut duplicate reporting and name clear agency contacts to answer applicants' questions. They would identify barriers to coordination, share housing research and market data, and look for future jointly funded project opportunities. Not later than 1 year after enactment they would submit a joint report with recommendations to the Senate Banking, Housing, and Urban Affairs Committee; the Senate Commerce, Science, and Transportation Committee; the House Financial Services Committee; and the House Energy and Commerce Committee.