{"id":1573103,"date":"2022-07-27T11:08:08","date_gmt":"2022-07-27T15:08:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1573103"},"modified":"2022-07-27T11:08:16","modified_gmt":"2022-07-27T15:08:16","slug":"u-s-treasury-to-allow-covid-funds-for-state-local-affordable-housing-loans","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-treasury-to-allow-covid-funds-for-state-local-affordable-housing-loans\/","title":{"rendered":"U.S. Treasury to allow COVID funds for state, local affordable housing loans"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-treasury-to-allow-covid-funds-for-state-local-affordable-housing-loans%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1573103&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><img decoding=\"async\" width=\"373\" height=\"210\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6Q0CG-VIEWIMAGE-373x210-1.jpg\" class=\"attachment-thumbnail size-thumbnail wp-post-image\" alt=\"\" loading=\"lazy\" style=\"float:left; margin:0 15px 15px 0;\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6Q0CG-VIEWIMAGE-373x210-1.jpg 373w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI6Q0CG-VIEWIMAGE-180x101.jpg 180w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI6Q0CG-VIEWIMAGE-260x146.jpg 260w, https:\/\/dzm0ugdauank9.cloudfront.net\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2022binary_LYNXMPEI6Q0CG-VIEWIMAGE-120x67.jpg 120w\" sizes=\"auto, (max-width: 373px) 100vw, 373px\" \/><\/p>\n<p>WASHINGTON (Reuters) \u2013     The U.S. Treasury said on Wednesday that it will allow state, local and tribal governments more flexibility to use COVID-19 rescue funds to boost the supply of affordable housing, including permission to issue direct long-term project loans.<\/p>\n<p>The changes for the $350 billion State and Local Fiscal Relief Fund program are aimed at filling a financing gap for affordable housing projects, allowing them to be more easily developed, especially those that are eligible for the Treasury\u2019s Low-Income Housing Tax Credit.<\/p>\n<p>State, local and tribal governments can fully provide loan principal under the new guidance, provided projects meet certain criteria.<\/p>\n<p>The Treasury also said it is expanding the range of uses of the funds for projects beyond those currently allowed under two major Department of Housing and Urban Development programs to additional federal programs from multiple agencies.<\/p>\n<p>U.S. Deputy Treasury Secretary Wally Adeyemo said Treasury is making clear that state and local funds may be used to finance the development, repair and operation of any affordable rental housing unit that provides long-term affordability of 20 years or more to households at or below 65% of the local area\u2019s median income level.<\/p>\n<p>Treasury had previously called on states and municipalities to use more of their COVID-19 allocations to address a severe shortage of affordable housing, a driver of inflation..<\/p>\n<p>But Adeyemo said that state and local housing agencies had asked for more flexibility and broader uses of the funds.<\/p>\n<p>\u201cThe thing that I have seen more and more is that there are a number of affordable housing projects today that started during the pandemic that have become more expensive, and there\u2019s a need for additional gap financing,\u201d Adeyemo told reporters. \u201cAnd that\u2019s hard to find.\u201d<\/p>\n<p>Through March 31, over 600 communities had budgeted $12.9 billion from their state and local funding allocations to meet housing needs and lower housing costs, including $4.2 billion for affordable housing development and preservation.<\/p>\n<p \/>\n<p> (Reporting by David Lawder; editing by Richard Pullin)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2730965\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6Q0CG-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6Q0CG-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON (Reuters) \u2013 The U.S. Treasury said on Wednesday that it will allow state, local and tribal governments more flexibility to use COVID-19 rescue funds to boost the supply of<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1573103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1573103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1573103"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1573103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1573103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1573103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1573103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}