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Bipartisan ‘YIMBY’ bill would provide $1.5B in grants to spur new housing

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Multifamily Housing

Bipartisan ‘YIMBY’ bill would provide $1.5B in grants to spur new housing

Resources for local leaders to overcome obstacles such as density-unfriendly or discriminatory zoning.


By Peter Fabris, Contributing Editor | March 30, 2021
Bipartisan ‘YIMBY’ bill would provide $1.5B in grants to spur new housing

Photo: Pixabay 

    

Three U.S. senators—two Democrats and one Republican—will introduce the Housing Supply and Affordability Act that would authorize $1.5 billion for federal grants to local governments.

The funds, to be distributed over the next five years, would be available to communities that commit to increasing their supply of local housing. Local leaders could use the funds to overcome obstacles to new construction, such as density-unfriendly or discriminatory zoning regulations.

Eligible local governments could apply for grants to devise housing policy plans to spur new construction. The bill is designed to help rural areas and smaller cities that struggle with different housing problems than high-cost coastal metro areas. At least 10% of funds would be required to go to governments in rural areas

The bill could end up being encompassed by the $3 trillion infrastructure bill under development by the Biden Administration, according to a Bloomberg news report.

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