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$40 billion of COVID-19 aid unlocked to build affordable housing

April 1, 2024

To boost affordable housing projects, the U.S. Treasury Department plans to ease state and local government access to unspent COVID-19 funds.

The Department said it will update rules to allow state and local governments with remaining resources to use those funds on eligible housing projects, according to a recent statement.  It has also expanded eligibility to support housing projects serving families earning up to 120% of the area's median income, a revision from 65% previously. 

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