TOP STORIES

House subcommittee to consider USDA funding June 11

The House Agriculture Appropriations Subcommittee is expected to mark up a FY25 funding bill on June 11. HAC will post details of the draft House bill online when it is released. Subcommittee markup of the House’s HUD appropriations bill is set for June 27. The Senate Appropriations Committee has not yet scheduled markups.

House committee approves farm bill

The House Agriculture Committee passed its 2024 farm bill, H.R. 8467, on May 23. Full text of the Senate’s version has not yet been released and a Senate markup has not been scheduled.

Funding applications from Rural Partners Network communities to get priority points

Applications seeking USDA Rural Development funding for projects in current and future Rural Partners Network communities will receive extra points. USDA RD will incorporate the change into its existing priority points framework for funding notices published on or after June 1, 2024. Currently, RPN supports community networks in Alaska, Arizona, Georgia, Kentucky, Mississippi, Nevada, New Mexico, North Carolina, West Virginia, Wisconsin, and Puerto Rico.

HAC’s magazine covers rural data

Demystifying Rural Data: Do You Know Your Market? is the subject of the latest issue of Rural Voices, HAC’s magazine. Data and information have proliferated due to AI and other resources, but quality data are still often more difficult to access in rural communities. Articles by practitioners, policymakers, and community-based organizations share tools, processes, and more for managing the rapidly changing information landscape.

June is National Homeownership Month

USDA and HUD are among the many agencies and organizations marking the month.

June is Pride Month

President Biden issued a proclamation on Lesbian, Gay, Bisexual, Transgender, Queer, and Intersex Pride Month.

RuralSTAT

While homeownership rates have traditionally been higher in rural areas than elsewhere, homeownership varies across demographic groups and regions within rural America. More than three-quarters of rural white non-Hispanics are homeowners compared to 57% of rural non-white households. Source: HAC tabulations of the U.S. Census Bureau’s 2017-2022 American Community Survey.

OPPORTUNITIES

HAC extends deadline to apply for capacity building

The OneRural Capacity Building Program is specifically designed for nonprofit organizations and Tribally Designated Housing Entities seeking to advance their mission of affordable housing and community development. Participants will receive customized technical support, a wealth of training materials and informational guides, and reimbursable scholarships for HAC-sponsored training events. Apply by June 14. For answers to questions, email apply@ruralhome.org and put OneRural Technical Assistance in the subject line.

HUD launches new manufactured home community loan product

The Federal Housing Administration’s Manufactured Home Community loan product will provide an FHA-insured financing option for the purchase, refinance, and revitalization of manufactured home communities. Mission-focused entities such as resident-owned manufactured home communities, cooperatives, nonprofits, state and local governments, CDFIs, and Indian Tribes will be eligible to use the program to finance the acquisition of or to improve existing communities, including making updates to common area resources and helping to maintain rent affordability. HUD’s announcement says this permanent financing tool complements the PRICE program, which offers competitive grants that can be used for investments in affordable manufactured home communities.

Funds offered for reentry housing

The Justice Department’s Smart Reentry Housing Demonstration Program will fund state, local, and Tribal governments, PHAs, and Tribal housing entities to expand or increase access to housing for people who are currently or formerly involved in the criminal justice system. Applicants may propose evidence-based or innovative reentry housing models; stand up new or expand existing models of reentry housing by adding program elements or expanding eligibility; or propose other projects that remove barriers and increase access to housing options for individuals returning to communities from prison or jail. All approaches should seek to facilitate access to wraparound services. Apply by July 18.

Indian Housing Block Grant competitive funds offered

Tribes and Tribally designated housing entities are eligible for grants from the Indian Housing Block Grant–Competitive Grant Program to carry out a range of affordable housing activities. Applications are due August 29.

Service coordinator grants available

Nonprofits, Tribes, PHAs and Indian housing entities, and resident associations are eligible to apply for HUD’s Resident Opportunity and Self Sufficiency Service Coordinator program, which enables them to hire service coordinators to link residents of public and Indian housing residents to local training and supportive services. Applications are due September 30.

REGULATIONS AND FEDERAL AGENCIES

July 29 deadline set for comments on HOME regulations

HUD’s proposed revisions to the HOME program regulations have been published in the Federal Register. Comments are due July 29.

Age limitation re-imposed for USDA’s disaster home repair grants pilot

USDA RD’s Section 504 Home Repair Loans and Grants in Presidentially Declared Disaster Areas pilot program waived some requirements of the regular Section 504 program, including the requirement for grant recipients to be age 62 or older. Now, because FY24 appropriations reduced Section 504 funding and also rescinded unobligated funds from past years, USDA cannot keep all the waivers in place and is reinstating the age limitation, effective on June 7. The remaining waivers for the pilot program will remain in place and are anticipated to continue until July 18, 2025.

Information requested on closing costs’ impact

The Consumer Financial Protection Bureau seeks comments from consumers, industry participants, social services organizations, and others about the impacts of mortgage closing costs on homeowners and the mortgage market. CFPB asks for stories, data, and other information on topics including the extent of added costs and their impact on the ability to purchase a home, anticipate and afford monthly payments, or refinance an existing mortgage. Comments are due August 2.

Annual supplement on federal awards available

The Office of Management and Budget has issued its 2024 Compliance Supplement for guidance on uniform administrative requirements, cost principles, and audit requirements for federal awards. Comments are due August 5.

HUD corrects voucher rule

HUD published a notice correcting errors in the text of its May 7 final regulation implementing the Housing Opportunity Through Modernization Act of 2016 for the Housing Choice Voucher and Project-Based Voucher programs.

EVENTS

HAC sets public hearing for June 26 on PRICE manufactured housing proposal

As an applicant for HUD’s new Preservation and Reinvestment Initiative for Community Enhancement program, HAC will hold a public hearing to obtain feedback on its proposal. HAC’s hearing will be a hybrid event, held at noon Eastern time on Wednesday, June 26, both online and at HAC’s office, 1828 L Street, NW, Suite 505, Washington, DC. Watch your email and HAC’s website for further information!

Manufactured housing solutions to be discussed

Manufactured Housing: Increasing Access and Preserving Affordability will be held in-person and online on June 25. The conversation, convened by the Federal Reserve Bank of Philadelphia and the Pew Charitable Trusts Housing Policy Initiative, will highlight promising reforms, strategies, and innovations in the manufactured housing sector.

Webinar to look at HUD and USDA funding

The Campaign for Housing and Community Development Funding will hold a webinar June 12 to review final funding levels for FY24 and examine the outlook for HUD and USDA affordable housing funding in FY25. HAC’s Samantha Booth will cover the impact on rural housing.

Rural capacity building and collaboration webinar planned

The Power of Rural Collaboration and Coalition Building: Lessons Learned and Paths Forward, to be held June 17, will cover best practices and lessons learned on rural capacity development, collaboration, and coalition building. This event is the culmination of the multi-year Rural Opportunity and Development Sessions (ROADs), a partnership of the Aspen Institute Community Strategies Group, HAC, the International Economic Development Council, the Rural Community Assistance Partnership, Rural LISC, and the Federal Reserve Board with support from the Robert Wood Johnson Foundation.

PUBLICATIONS AND MEDIA

Gaps persist in U.S. economic well-being

The Federal Reserve’s report on Economic Well-Being of U.S. Households in 2023 reveals that nationwide financial well-being slightly decreased in 2023, with 72% of adults reporting being financially okay, one percentage point less than in 2022. Income gaps and racial gaps persist in homeownership rates. The median monthly rent payment, $1,100, increased by 10% from 2022. Approximately 27% of adults were renters, with Black, Hispanic, and disabled adults and adults living in low- and moderate-income communities more likely to be renters. People living outside metropolitan areas had lower levels of financial well-being than those living in metro areas, and fewer than 3 in 10 outside-metro-area residents rated their local economy as good or excellent. The Fed will hold a webinar about this report on June 20.

Native Americans are less economically secure

The Fed’s Economic Well-Being report, based on findings from its Survey of Household Economics and Decisionmaking, does not include data for American Indian and Alaska Natives because the sample size is limited. The Center for Indian Country Development at the Minneapolis Fed pooled nine years of SHED data to overcome the sample limitations. The resulting report, Shedding Light on Native American Households’ Financial Stress, reveals that from 2014 to 2022 American Indian and Alaska Native households were less likely than others to report living comfortably and less likely to cover an unexpected expense with cash.

HAC

HAC is hiring

HAC job listings, each with application instructions, are available on our website.

• Senior Loan Officer
• Portfolio Management Associate
• Research Associate
• Research Assistant

Need capital for your affordable housing project?

HAC’s loan fund provides low interest rate loans to support single- and multifamily affordable housing projects for low-income rural residents throughout the U.S. and territories. Capital is available for all types of affordable and mixed-income housing projects, including preservation, new development, farmworker, senior and veteran housing. HAC loan funds can be used for pre-development, site acquisition, site development, construction/rehabilitation and permanent financing. Contact HAC’s loan fund staff at hacloanfund@ruralhome.org, 202-842-8600.

Please note: HAC is not able to offer loans to individuals or families. Borrowers must be nonprofit or for-profit organizations or government entities (including Tribes).

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