Treasury seeks comments on affordable housing application forms by May 19
Published Date: 4/18/2025
Notice
Summary
The Treasury Department wants your thoughts on updating forms for programs that help build affordable housing and boost low-income communities. These changes aim to make applying easier and keep the money flowing to groups that need it most. If you want to share your ideas, send them by May 19, 2025!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Federal awards to expand affordable housing
You could benefit from the Capital Magnet Fund (CMF). CMF provides Federal financial awards to Certified Community Development Financial Institutions (CDFIs) and qualified nonprofit organizations to attract private financing for the development, preservation, rehabilitation, and purchase of affordable housing primarily for Extremely Low-, Very Low-, and Low-Income families and for economic development tied to stabilizing Low-Income Areas or Underserved Rural Areas. The notice states an estimated 136 respondents for the CMF application with an estimated 120 hours per respondent (16,320 annual burden hours).
Grants to expand affordable small-dollar loans
You could see greater access to lower-cost small-dollar loans through the Small Dollar Loan (SDL) Program. The SDL Program provides grants to CDFIs for loan loss reserves and technical assistance to establish or expand small dollar loan programs that provide alternatives to high-cost small dollar loans and help unbanked and underbanked people build credit and access affordable capital and the mainstream financial system. The notice estimates 92 respondents for the SDL application with an estimated 85 hours per respondent (7,820 annual burden hours).
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