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Treasury Department Announces New Efforts to Increase Housing Supply in the United States
Today, the U.S. Department of the Treasury announced new efforts to increase the supply of housing in the year ahead. These efforts include: Updated guidance for the American Rescue Plan’s (ARP) State and Local Fiscal Recovery Funds (SLFRF) to make it easier for recipients to use remaining funds to construct affordable housing; New clarifications to the ARP’s Emergency Rental Assistance (ERA) program which will make clear that qualifying recipients can use remaining funds on a broad range of uses to fund affordable housing serving very low-income families; and An extension of the Federal Financing Bank’s (FFB) ... (full story)