Innovation Fund Act establishes a grant program to increase local housing supply.
The Innovation Fund Act establishes a grant program to increase local housing supply. The Secretary of Housing and Urban Development will award grants to eligible entities that have increased their local housing supply. Eligible entities include metropolitan cities, urban counties, and Indian tribes. Grants can be used for activities like revising zoning codes, promoting dense development, and using tax incentives for housing. The Secretary will prioritize entities that use innovative policies and have improved housing supply growth. Grants range from $250,000 to $10,000,000.
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