‘‘(B) has as a primary purpose the provi-
sion and maintenance of housing that provides 
long-term affordability for low- and moderate- 
income persons; 
‘‘(C) provides housing described in sub-
paragraph (B) using a ground lease, deed cov-
enant, or other similar legally enforceable meas-
ure, as determined by the Secretary, that— 
‘‘(i) keeps the housing affordable to 
low- and moderate-income persons for a 
period of not less than 30 years; and 
‘‘(ii) enables low- and moderate-in-
come persons to purchase the housing for 
homeownership; and 
‘‘(D) maintains preemptive purchase op-
tions to purchase the property so the housing 
remains affordable to low- and moderate-income 
persons. 
‘‘(2) ELIGIBLE FACILITY.— 
‘‘(A) IN GENERAL.—The term’’; 
(2) in subsection (b)— 
(A) in paragraph (2), by inserting ‘‘, or to 
preserve or create long-term affordable housing 
units around the existing eligible facility’’ after 
‘‘facility’’; and 
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(B) in paragraph (3), by inserting ‘‘and to 
enable the preservation or creation of long-term 
affordable housing units around the existing eli-
gible facility’’ after ‘‘facility’’; 
(3) in subsection (c)(2)— 
(A) in subparagraph (A)— 
(i) in clause (vii), by striking ‘‘and’’ at 
the end; 
(ii) in clause (viii), by adding ‘‘and’’ 
after the semicolon at the end; and 
(iii) by adding after clause (viii) the 
following: 
‘‘(ix) the impact of the mitigation, ret-
rofit, or removal of the eligible facility on 
the supply of affordable owner-occupied 
and rental housing in the surrounding 
area;’’; 
(B) in subparagraph (B), by striking 
‘‘and’’ at the end; 
(C) redesignating subparagraph (C) as 
subparagraph (D); and 
(D) by inserting after subparagraph (B) 
the following: 
‘‘(C) housing planning activities required 
in advance of a project to mitigate, retrofit, or 
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remove an existing eligible facility in order to 
preserve affordable housing around the existing 
eligible facility, including— 
‘‘(i) the incorporation of long-term af-
fordability into such a project or the sur-
rounding area through existing or new— 
‘‘(I) community land trusts; 
‘‘(II) other shared equity home-
ownership programs that— 
‘‘(aa) have income require-
ments; 
‘‘(bb) require a resale for-
mula that limits the price for 
which the property may be re-
sold; and 
‘‘(cc) are managed by a non-
profit affordable housing organi-
zation or developer; 
‘‘(III) 
resident-owned 
commu-
nities, including manufactured hous-
ing communities; 
‘‘(IV) housing cooperatives; 
‘‘(V) Tribal entities; or 
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‘‘(VI) rental housing that will re-
main affordable for a period of not 
less than 30 years; 
‘‘(ii) planning related to the purchase 
or use of property around the existing eli-
gible facility by a community land trust, 
land bank, nonprofit organization or devel-
oper, or municipality for the purpose of 
creating affordable housing; and 
‘‘(iii) planning related to the imple-
mentation of a land value tax or a tax in-
crement financing district for the purpose 
of funding affordable housing; and’’; 
(4) in subsection (d)(4)(B)(viii)— 
(A) in subclause (I), by striking ‘‘and’’ at 
the end; 
(B) in subclause (II), by striking the pe-
riod at the end and inserting ‘‘; and’’; and 
(C) by adding at the end the following: 
‘‘(III) preserving existing afford-
able housing and preventing displace-
ment of residents.’’; and 
(5) in subsection (e), by adding at the end the 
following: 
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‘‘(3) JOINT
REPORT
ON
AFFORDABLE
HOUS-
ING.—Not later than January 1, 2027, the Sec-
retary and the Secretary of Housing and Urban De-
velopment shall submit to the Committee on Envi-
ronment and Public Works of the Senate and the 
Committee on Transportation and Infrastructure of 
the House of Representatives a report that evaluates 
the program under this section, including— 
‘‘(A) for the recipients of capital construc-
tion grants, data on— 
‘‘(i) rent and homeownership costs 
during and after the award of a grant 
under this section; and 
‘‘(ii) demographic changes in the sur-
rounding area after the award of a grant 
under this section; and 
‘‘(B) information about partnerships that 
recipients of grants under this section have en-
tered into with affordable housing organiza-
tions, including community land trusts or other 
shared equity models, to preserve or develop af-
fordable housing.’’. 
Æ 
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