The plan would advance and streamline the HOME Investment Partnerships Program through Congressional reauthorization, updated HUD guidance, and improved technical assistance. NACEDA is working to ensure that any reforms to HOME regulations continue to target money to Community Housing Development Organizations (CHDOs), including smaller organizations, and reduce burdensome regulations. Read NACEDA's draft HOME CHDO Modernization Proposal.

The plan calls on Congress to pass the bipartisan Neighborhood Homes Investment Act, legislation that would create a tax incentive to build and rehabilitate 125,000 homes for low- and middle-income homebuyers.

The plan would also extend the window in which federally-owned foreclosed properties are only available for purchase by nonprofits to 30 days. It sets a goal of selling 50% of federally-owned homes to owner-occupants and nonprofits. To encourage zoning that promotes density, the administration will prioritize competitive grants approved in last year’s federal infrastructure bill for places with land-use policies that promote density. It will also target competitive economic development grants toward proposals that would increase housing density.

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Member News 
Meet Community Builders Network of Metro St. Louis’s New Executive Director

Linda Nguyen joined the Community Builders Network of
Metro St. Louis (CBN) as their new Executive Director. Nguyen previously served with Park Central Development as their Neighborhood Initiatives and Engagement Coordinator. A NACEDA member, CBN supports, connects, and celebrates organizations working to champion St. Louis region communities, especially those most impacted by systemic disinvestment.

“I am humbled to be selected as the next leader of the Community Builders Network of Metro St. Louis. CBN has been a great convener of the public and private sectors who are invested in community revitalization efforts,” said Nguyen. “I hope to move our St. Louis region toward prosperity and innovation through stronger collaboration, deeper connections, and greater resources for our on-the-ground grassroot organizations.” Read this announcement to learn more about Nguyen. She is replacing outgoing executive director Jenny Connelly-Bowen, who will be stepping down at the end of June.

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Funding & Job Opportunities

Federal Funding Available for Community Development Corporations
The Office of Community Services (OCS) at the U.S. Department of Health & Human Services announced its FY22 Community Economic Development Funding Opportunity. The deadline to apply is July 11, 2022. Community Economic Development (CED) is a federal grant program for community development corporations. CED-funded projects create or expand businesses, create new jobs for individuals with low incomes, and leverage investments in communities.

Read the announcement which includes the application requirements and resources for the FY22 funding opportunity. Register to attend live webinars from National Association for Latino Community Asset Builders on application strategies (May 31) and from California Community Economic Development Association on how to write a compelling application (June 2).