II 

117TH CONGRESS 

1ST SESSION S. 2300 

To direct the Secretary of Housing and Urban Development to establish 

a grant program to help revitalize certain localities, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JUNE 24, 2021 

Mr. PETERS introduced the following bill; which was read twice and referred 

to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To direct the Secretary of Housing and Urban Development 

to establish a grant program to help revitalize certain 

localities, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Restoring Commu5 nities Left Behind Act’’. 

6 SEC. 2. FINDINGS. 

7 Congress finds the following: 

8 (1) As the United States continues to feel the 

9 devastating economic impacts of Coronavirus Dis10 ease 2019 (COVID–19), many urban and rural comVerDate Sep 11 2014 23:12 Jul 09, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2300.IS S2300

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1 munities are still suffering from the effects of under2 water mortgages, vacancy, abandoned properties, 

3 blight, aging housing stock, properties with deferred 

4 maintenance and harmful materials such as lead, as5 bestos, and mold, unemployment, and population 

6 loss. 

7 (2) While some cities and counties struggle with 

8 disinvestment and population loss, there are also 

9 pockets of economic distress in otherwise prosperous, 

10 growing areas. 

11 (3) Investments targeted to these communities 

12 left behind will be critical to ensure equitable eco13 nomic recovery, job creation, and housing and neigh14 borhood infrastructure revitalization. 

15 (4) The need to revitalize neighborhoods is 

16 greater than what can be supported with existing 

17 local tax bases. 

18 (5) Communities continue to suffer from the 

19 impact of governmental policies and private sector 

20 practices that forbade or discouraged mortgage lend21 ing in neighborhoods having significant minority 

22 populations. 

23 (6) Many State and local governments, land 

24 banks, and nonprofit organizations across the 

25 United States have responded to the housing crisis 


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1 by creating cost-effective strategies to revitalize 

2 neighborhoods. 

3 (7) 2016 data from the Bureau of the Census 

4 shows that non-Hispanic, White households have an 

5 average net worth of $143,600, while Black house6 holds have an average net worth of $12,920 and 

7 Hispanic households have an average net worth of 

8 $21,420. 

9 (8) Housing equity is a significant portion of 

10 Black and Hispanic households’ net worth, making 

11 up nearly 57 percent of Black households’ net worth, 

12 66.5 percent of Hispanic households’ net worth, and 

13 40.8 percent of White households’ net worth, accord14 ing to the Urban Institute’s calculations from the 

15 2016 Survey of Consumer Finances. 

16 (9) The 2008 recession and the COVID–19 re17 cession have exacerbated the racial wealth gap. 

18 (10) Funding innovative local neighborhood 

19 strategies will allow the United States to close the 

20 racial wealth gap, ensure equitable access to housing 

21 and economic mobility, and counter the lasting leg22 acy of redlining policies. 

23 (11) Despite the strong requirement to affirma24 tively furthering fair housing under the Fair Hous25 ing Act (42 U.S.C. 3601 et seq.), the lack of acVerDate Sep 11 2014 23:12 Jul 09, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S2300.IS S2300

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1 countability measures implemented by the Depart2 ment of Housing and Urban Development to ensure 

3 equitable use of housing and community develop4 ment dollars in Federal programs has allowed for 

5 the perpetuation of the legacy of redlining and 

6 neighborhood disinvestment. 

7 (12) It is imperative that the Federal Govern8 ment make funding available for the best local strat9 egies to increase homeownership and preserve home 

10 equity in impacted areas, access to safe and afford11 able rental housing, economic growth, job creation, 

12 and to build on local assets to improve communities 

13 in ways that affirmatively further fair housing. 

14 SEC. 3. DEFINITIONS. 

15 In this Act: 

16 (1) ANCHOR INSTITUTION.—The term ‘‘anchor 

17 institution’’ means a school, a library, a healthcare 

18 provider, a community college or other institution of 

19 higher education, or another community support or20 ganization or entity. 

21 (2) APPROPRIATE CONGRESSIONAL COMMIT22 TEES.—The term ‘‘appropriate congressional com23 mittees’’ means— 


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1 (A) the Committee on Financial Services 

2 and the Committee on Appropriations of the 

3 House of Representatives. 

4 (B) the Committee on Banking, Housing, 

5 and Urban Affairs and the Committee on Ap6 propriations of the Senate. 

7 (3) COMMUNITY DEVELOPMENT FINANCIAL IN8 STITUTION.—The term ‘‘community development fi9 nancial institution’’ has the meaning given the term 

10 in section 103 of the Community Development 

11 Banking and Financial Institutions Act of 1994 (12 

12 U.S.C. 4702)). 

13 (4) COMMUNITY LAND TRUST.—The term 

14 ‘‘community land trust’ ’’ means a nonprofit organi15 zation or a State or local government or instrumen16 tality that— 

17 (A) uses a ground lease or deed covenant 

18 with an affordability period of not less than 30 

19 years to— 

20 (i) make rental and homeownership 

21 units affordable to households; and 

22 (ii) stipulate a preemptive option to 

23 purchase the affordable rentals or home24 ownership units so that the affordability of 


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1 the units is preserved for successive in2 come-eligible households; and 

3 (B) monitor properties to ensure afford4 ability is preserved. 

5 (5) ELIGIBLE LOCAL PARTNERSHIP.—The term 

6 ‘‘eligible local partnership’’ means a partnership be7 tween— 

8 (A) a national or local nonprofit organiza9 tion with expertise in community planning, en10 gagement, organizing, development, or neigh11 borhood revitalization; and 

12 (B)(i) a city or county government; 

13 (ii) a land bank; 

14 (iii) a fair housing enforcement organiza15 tion; 

16 (iv) an anchor institution; 

17 (v) a nonprofit organization; 

18 (vi) a State housing finance agency or a 

19 related State agency; 

20 (vii) a community development financial in21 stitution; 

22 (viii) a public housing agency; or 

23 (ix) a combination of any entities described 

24 in clauses (i) through (viii). 


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1 (6) ELIGIBLE LOCALITY.—The term ‘‘eligible 

2 locality’’ means one or more geographic areas at the 

3 neighborhood or county level that meet not less than 

4 four of the following objective criteria of economic 

5 distress, with specific thresholds set by the Sec6 retary: 

7 (A) Dwelling unit sales prices are lower 

8 than the cost to acquire and rehabilitate, or 

9 build, a new dwelling unit. 

10 (B) High proportions of residential and 

11 commercial properties are vacant due to fore12 closure, eviction, abandonment, or other causes. 

13 (C) Low rates of homeownership. 

14 (D) Racial disparities in homeownership 

15 rates. 

16 (E) High rates of poverty. 

17 (F) High rates of unemployment and 

18 underemployment. 

19 (G) Population loss. 

20 (H) Lack of private sector lending on fair 

21 and competitive terms for individuals to pur22 chase homes or start small businesses. 

23 (I) Other indicators of economic distress, 

24 such as the lack of housing affordability, stem25 ming from long-standing government policies 


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1 and private sector practices that prevented 

2 mortgage lending in some communities, such as 

3 redlining. 

4 (7) FAIR HOUSING ENFORCEMENT ORGANIZA5 TION.—The term ‘‘fair housing enforcement organi6 zation’’ has the meaning given the term in section 

7 561(h) of the Housing and Community Development 

8 Act of 1987 (42 U.S.C. 3616a(h)). 

9 (8) INSTITUTION OF HIGHER EDUCATION.—The 

10 term ‘‘institution of higher education’’ has the 

11 meaning given the term in section 101 of the Higher 

12 Education Act of 1965 (25 U.S.C. 1001). 

13 (9) LAND BANK.—The term ‘‘land bank’’ 

14 means a government entity, agency, or program, or 

15 a special purpose nonprofit entity formed by one or 

16 more units of government in accordance with State 

17 or local land bank enabling law, that has been des18 ignated by one or more State or local governments 

19 to acquire, steward, and dispose of vacant, aban20 doned, or other problem properties in accordance 

21 with locally-determined priorities and goals. 

22 (10) NEIGHBORHOOD REVITALIZATION SUP23 PORT ACTIVITY.—The term ‘‘neighborhood revital24 ization support activity’’ means an activity described 

25 in section 4(b). 


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1 (11) NON-PERFORMING MORTGAGE.—The term 

2 ‘‘non-performing mortgage’’ means a residential 

3 mortgage loan that is delinquent for a period of not 

4 less than 90 days. 

5 (12) NONPROFIT ORGANIZATION.—The term 

6 ‘‘nonprofit organization’’ means an organization that 

7 is described in section 501(c)(3) of the Internal Rev8 enue Code of 1986 and is exempt from taxation 

9 under section 501(a) of such Code. 

10 (13) PUBLIC HOUSING AGENCY.—The term 

11 ‘‘public housing agency’’ has the meaning given the 

12 term in section 3(b) of the United States Housing 

13 Act of 1937 (42 U.S.C. 1437a(b)). 

14 (14) SECRETARY.—The term ‘‘Secretary’’ 

15 means the Secretary of Housing and Urban Develop16 ment. 

17 (15) SHARED EQUITY HOMEOWNERSHIP PRO18 GRAM.—The term ‘‘shared equity homeownership 

19 program’’ means affordable homeownership preser20 vation through a resale restriction program adminis21 tered by a community land trust, other nonprofit or22 ganization, or a State or local government or instru23 mentality that— 

24 (A) provides affordable homeownership op25 portunities to households; and 


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1 (B) utilizes a ground lease, deed restric2 tion, subordinate loan, or similar legal mecha3 nism that includes provisions ensuring that the 

4 program shall— 

5 (i) maintain the home as affordable 

6 for subsequent very low-, low-, or mod7 erate-income families for an affordability 

8 term of not less than 30 years after rec9 ordation; 

10 (ii) apply a resale formula that limits 

11 the proceeds of the homeowner upon re12 sale; and 

13 (iii) provide the program adminis14 trator or an assignee thereof a preemptive 

15 option to purchase the homeownership unit 

16 from the homeowner at resale. 

17 (16) STATE HOUSING FINANCE AGENCY.—The 

18 term ‘‘State housing finance agency’’ has the mean19 ing given the term in section 106(h) of the Housing 

20 and Urban Development Act of 1968 (12 U.S.C. 

21 1701x(h))). 

22 SEC. 4. COMPETITIVE GRANT PROGRAM. 

23 (a) ESTABLISHMENT.—Not later than the 120 days 

24 after the date of enactment of this Act, the Secretary shall 

25 establish a program to award competitive grants to eligible 


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1 local partnerships to carry out neighborhood revitalization 

2 support activities described in subsection (b) in further3 ance of a neighborhood revitalization strategy in an eligi4 ble locality. 

5 (b) USE OF FUNDS.—The neighborhood revitaliza6 tion support activities described in this subsection are— 

7 (1) providing assistance to existing residents ex8 periencing economic distress or at risk of displace9 ment with homeowner rehabilitation assistance, 

10 weatherization, improved housing accessibility and 

11 livability for seniors and persons with disabilities, 

12 energy efficiency improvements, refinancing, housing 

13 counseling certified by the Secretary, including loss 

14 mitigation counseling, property tax relief, clearing 

15 and obtaining formal title, addressing outstanding 

16 housing-related expenses, or other activities that the 

17 Secretary determines are appropriate; 

18 (2) purchasing non-performing mortgages to as19 sist existing homeowners and advance neighborhood 

20 stability; 

21 (3) supporting the purchase and redevelopment 

22 of vacant, abandoned, or distressed properties to cre23 ate affordable rental housing, homeownership or 

24 shared equity homeownership opportunities, mixed25 use properties, or commercial properties, which 


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1 properties may be converted between rental and 

2 homeownership, including shared equity homeowner3 ship, upon termination of the lease or transfer of the 

4 property during the relevant period of affordability 

5 to ensure local community needs are met, properties 

6 do not sit vacant, and affordability is preserved; 

7 (4) providing pre-purchase counseling through 

8 housing counselors certified by the Secretary for 

9 neighborhood revitalization support activities that 

10 provide homeownership opportunities; 

11 (5) providing down payment assistance to pro12 spective homebuyers; 

13 (6) establishing and operating community land 

14 trusts to provide affordable rental and homeowner15 ship opportunities, including shared equity home16 ownership opportunities; 

17 (7) demolishing abandoned or distressed struc18 tures, but only if such activity is part of a strategy 

19 that incorporates rehabilitation or new construction 

20 and efforts to increase affordable housing and home21 ownership, except that not more than 10 percent of 

22 any grant made under this section may be used for 

23 activities under this paragraph unless the Secretary 

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1 fort to increase affordable housing or homeowner2 ship; 

3 (8) establishing or operating land banks to 

4 maintain acquire, redevelop, or sell properties that 

5 are abandoned or distressed, with preference among 

6 applications proposing activities under this para7 graph to be given to applications that promote dis8 tribution of properties for affordable housing and 

9 small businesses; 

10 (9) improving parks, sidewalks, street lighting, 

11 and other neighborhood improvements that impact 

12 quality of life in the targeted neighborhoods, except 

13 that not more than 5 percent of any grant made 

14 under this section may be used for activities under 

15 this paragraph; and 

16 (10) in connection with any other eligible activ17 ity under this subsection, working with resident 

18 leaders and community groups to undertake commu19 nity planning, outreach, and neighborhood engage20 ment, consistent with the goals of increasing home21 ownership, stabilizing neighborhoods, reducing va22 cancy rates, creating jobs, increasing or stabilizing 

23 residential and commercial property values, and 

24 meeting other neighborhood needs, except that not 

25 more than 10 percent of any grant made under this 


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1 section may be used for activities under this para2 graph. 

3 (c) AFFORDABILITY TERMS.— 

4 (1) RENTAL UNITS.—In the case of property 

5 assisted pursuant to subsection (b)(3) containing 

6 any dwelling units that are made available for rent7 al— 

8 (A) such units shall be available for rental 

9 only by a household having an income that does 

10 not exceed 60 percent of the median income for 

11 the area in which such unit is located; 

12 (B) such units shall remain affordable for 

13 not less than 30 years; 

14 (C) such property may be a mixed-use 

15 property; and 

16 (D) such unit shall be maintained in habit17 able condition, as defined by the locality in 

18 which the property is located. 

19 (2) HOMEOWNERSHIP UNITS.—In the case of 

20 property assisted pursuant to subsection (b)(3) con21 sisting of a dwelling unit, or containing any dwelling 

22 units, made available for homeownership, such unit 

23 or units— 

24 (A) shall be available for purchase only to 

25 by a household having an income that does not 


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1 exceed 120 percent of the median income for 

2 the area in which such unit is located; 

3 (B) if made available through a shared eq4 uity homeownership program, shall remain af5 fordable for not less than 30 years; and 

6 (C) if not made available through a shared 

7 equity homeownership program— 

8 (i) shall remain affordable for a pe9 riod of years as determined by the partner10 ship, which shall not be shorter than 5 

11 years from the sale of the unit; and 

12 (ii) shall be subject to resale or recap13 ture provisions that— 

14 (I) are established by the part15 nership to ensure that the afford16 ability term may be met or funds may 

17 be redeployed for neighborhood revi18 talization support activities; 

19 (II) may be waived in cases of 

20 hardship or market depreciation; and 

21 (III) provide that, in the case of 

22 a resale, the partnership may main23 tain preemptive purchase options in 

24 order to sell the property to another 

25 income qualified purchaser. 


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1 (3) NEW TERMS.—If a property described in 

2 this subsection converts between rental and home3 ownership or shared equity homeownership, the af4 fordability terms of the new tenure type shall be uti5 lized upon occupancy. 

6 (d) APPLICATIONS.— 

7 (1) IN GENERAL.—To apply to receive a grant 

8 under this section, an eligible local partnership shall 

9 submit to the Secretary an application at such time, 

10 in such manner, and containing such information as 

11 the Secretary may require. 

12 (2) GRANT RECIPIENT PRIORITY SELECTION

13 CRITERIA.—The Secretary shall prioritize awarding 

14 grants based on the following criteria: 

15 (A) The severity of the indicators of dis16 tress of the eligible locality described in section 

17 3(6). 

18 (B) The extent to which the activities pro19 posed will— 

20 (i) in the case of rental housing, ben21 efit households having incomes not exceed22 ing 30 percent of the median income for 

23 the area; and 

24 (ii) in the case of homeownership 

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1 ership, benefit households having incomes 

2 not exceeding 80 percent of the median in3 come for the area. 

4 (C) Whether the activities proposed will 

5 promote affordable homeownership and the ex6 tent to which those affordability terms will be 

7 preserved. 

8 (D) The extent to which an eligible local 

9 partnership that includes a public housing 

10 agency will use housing choice vouchers to sup11 port homeownership for households at or below 

12 60 percent of area median income. 

13 (E) The demonstrated capacity of an eligi14 ble local partnership to execute the proposed el15 igible neighborhood revitalization support activi16 ties. 

17 (F) The demonstrated community plan18 ning, outreach, and engagement practices of an 

19 eligible local partnership. 

20 (G) The depth and breadth of the commu21 nity partnership supporting the application. 

22 (H) The extent to which existing residents 

23 are assisted to prevent displacement. 

24 (I) The extent to which the proposed 

25 neighborhood revitalization support activities 


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1 would help close the racial wealth gap by in2 creasing minority homeownership, ensuring eq3 uitable access to housing and economic oppor4 tunity, and countering the ongoing legacy of 

5 redlining policies. 

6 (J) The extent to which development of 

7 new units are water and energy efficient. 

8 (K) The feasibility of the proposed neigh9 borhood revitalization support activities consid10 ering local market conditions. 

11 (L) The extent to which an application 

12 demonstrates comprehensive community plan13 ning efforts and additional funds in hand or 

14 committed for activities in the geographic area 

15 that are not directly related to the provision of 

16 affordable housing, such as support for small, 

17 minority, and women-owned business activity in 

18 commercial zones in the targeted neighbor19 hoods. 

20 (3) GEOGRAPHICAL DIVERSITY.—The Secretary 

21 shall seek to make grants under this section for eli22 gible local partnerships serving geographically di23 verse areas of economic distress, as described in sec24 tion 3(6), including metropolitan and underserved 

25 rural areas. 


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1 (e) OPERATION COSTS.—Not more than 15 percent 

2 of the amount of each grant under this section may be 

3 used by the recipient for administrative and organizational 

4 support costs. 

5 (f) TECHNICAL ASSISTANCE AND CAPACITY BUILD6 ING.—The Secretary may reserve up to 1 percent of any 

7 funds appropriated to carry out this section for technical 

8 assistance activities which support grantees under this 

9 program and 1 percent of funds from each grant awarded 

10 shall be used to develop grantee capacity to meet the re11 quirements under paragraphs (1) and (2) of subsection 

12 (h). 

13 (g) FAIR HOUSING PROTECTIONS.—Funds provided 

14 under the program under this section may not be used 

15 to deny housing opportunities based on the criminal or 

16 eviction history, source of income, or veteran status of any 

17 member of a household. 

18 (h) ACCOUNTABILITY OF RECIPIENTS.— 

19 (1) REQUIREMENTS.—The Secretary shall— 

20 (A) require each grantee under this section 

21 to develop and maintain a system to ensure 

22 that each recipient of assistance uses those 

23 amounts in accordance with this section, the 

24 regulations issued under this section, and any 


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1 requirements or conditions under which such 

2 amounts were provided; and 

3 (B) establish minimum requirements for 

4 agreements between the grantee and the Sec5 retary, regarding assistance from grants under 

6 this section, which shall include— 

7 (i) appropriate periodic financial and 

8 project reporting, record retention, and 

9 audit requirements for the duration of the 

10 grant to the recipient to ensure compliance 

11 with the limitations and requirements of 

12 this section and the regulations under this 

13 section; and 

14 (ii) any other requirements that the 

15 Secretary determines are necessary to en16 sure appropriate grant administration and 

17 compliance. 

18 (2) PUBLICLY AVAILABLE INFORMATION.—The 

19 Secretary shall make information regarding the re20 sults of assistance provided with amounts from 

21 grants under this section publicly available, which 

22 shall include at least the following information: 

23 (A) A list of recipients of grants awarded 

24 under this section and the amount of each such 

25 grant. 


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1 (B) A description of each neighborhood re2 vitalization support activity carried out by each 

3 such recipient and the impacts associated with 

4 each such activity, including the change in the 

5 rate of minority and first-time homeownership. 

6 (C) The total number of housing units ac7 quired, redeveloped, or produced using grant 

8 amounts under this section. 

9 (D) The total number of housing units for 

10 rent, ownership, and shared equity homeowner11 ship assisted with grant amounts under this 

12 section and the number of bedrooms in each 

13 such unit. 

14 (E) The percentage of housing units as15 sisted with grant amounts under this section 

16 that are affordable to low-, very low-, and ex17 tremely low-income households. 

18 (F) The number of such housing units lo19 cated in areas where the percentage of house20 holds in a racial or ethnic minority group— 

21 (i) is not less than 20 percentage 

22 points higher than the percentage of the 

23 population of that minority group for the 

24 metropolitan statistical area; 


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1 (ii) is not less than 20 percentage 

2 points higher than the percentage of the 

3 population of all minorities for the metro4 politan statistical area; and 

5 (iii) exceeds 50 percent of the popu6 lation. 

7 (G) Any other information that the Sec8 retary determines necessary to ensure that 

9 housing outcomes and grant administration and 

10 compliance align with the purposes of this Act. 

11 (i) REPORT.—Not later than 2 years after grants 

12 under this section are first awarded and 3 years there13 after, the Secretary shall submit to the appropriate con14 gressional committees, and make publicly available online, 

15 a report that— 

16 (1) evaluates the impact of the program estab17 lished under this section; 

18 (2) describes demographic changes in the eligi19 ble localities served by grantees of grants under this 

20 section, including changes in income, race, and eth21 nicity, property values, and unemployment rates; 

22 (3) identifies the number of housing units as23 sisted with grant amounts under this section located 

24 in high- and low-poverty census tracts; 


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1 (4) identifies the number of accessible units cre2 ated and modified with grant amounts under this 

3 section and where such units are located using the 

4 most granular location measurement that is feasible 

5 such as at the Census block group level; and 

6 (5) identifies where housing units assisted with 

7 grant amounts are located in relation to community 

8 assets, including high performing schools and public 

9 transportation options. 

10 (j) AUTHORIZATION OF APPROPRIATIONS.— 

11 (1) IN GENERAL.—There is authorized to be 

12 appropriated to carry out this section 

13 $5,000,000,000 for each of fiscal years 2021 

14 through 2031. 

15 (2) SET ASIDE.— 

16 (A) IN GENERAL.—The Secretary shall 

17 award not less than $500,000,000 of any 

18 amounts appropriated pursuant to this sub19 section to eligible local partnerships that will 

20 provide neighborhood revitalization support ac21 tivities to localities outside of a Metropolitan 

22 Statistical Area, as designated by the Office of 

23 Management and Budget. 

24 (B) EXCEPTION.—The priority under sub25 section (d)(2)(L) (relating to matching funds) 


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1 shall not apply to amounts awarded under this 

2 paragraph. 

3 (3) NOFA.—Not later than 180 days after the 

4 date of enactment of this Act, the Secretary shall 

5 issue a Notice of Funding Availability for grants 

6 under this section. 

7 SEC. 5. SELF-HELP HOMEOWNERSHIP OPPORTUNITY PRO8 GRAM. 

9 There is authorized to be appropriated for grants 

10 under section 11 of the Housing Opportunity Program 

11 Extension Act of 1996 (42 U.S.C. 12805 note) 

12 $250,000,000 for fiscal year 2021, which shall remain 

13 available until September 30, 2031. 

Æ 


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