I 
119TH CONGRESS 
1ST SESSION H. R. 6737 
To require the Secretary of Housing and Urban Development to establish 
an emerging developer fund program to provide competitive grants to 
nonprofit housing organizations and community development financial 
institutions, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 16, 2025 
Mr. CLEAVER introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To require the Secretary of Housing and Urban Development 
to establish an emerging developer fund program to pro-
vide competitive grants to nonprofit housing organiza-
tions and community development financial institutions, 
and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Sparking Production 
of Urban and Rural Housing Act’’ or the ‘‘SPUR Housing 
Act’’. 
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SEC. 2. DEFINITIONS. 
In this Act: 
(1) COMMUNITY DEVELOPMENT FINANCIAL IN-
STITUTION.—The term ‘‘community development fi-
nancial institution’’ means an institution that has 
been certified as a community development financial 
institution (as defined in section 103 of the Commu-
nity Development Banking and Financial Institu-
tions Act of 1994 (12 U.S.C. 4702)) by the Sec-
retary of the Treasury. 
(2) DISTRESSED COMMUNITY.—The term ‘‘dis-
tressed community’’ has the meaning given the term 
‘‘qualified census tract’’ in section 42(d)(5)(B)(ii) of 
the Internal Revenue Code of 1986. 
(3) HIGH
OPPORTUNITY
AREA.—The term 
‘‘high opportunity area’’ has the meaning given the 
term in section 1282.1 of title 12, Code of Federal 
Regulations, or any successor regulation. 
(4) 
EMERGING
DEVELOPER.—The 
term 
‘‘emerging developer’’ means a developer that has— 
(A) limited real estate development experi-
ence and limited liquidity or net worth; 
(B) any other qualifications as determined 
appropriate by the Secretary. 
(5) INSTITUTION OF HIGHER EDUCATION; PART 
B INSTITUTION.—The terms ‘‘institution of higher 
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education’’ and ‘‘part B institution’’ have the mean-
ings given those terms in section 101 and 322, re-
spectively, of the Higher Education Act of 1965 (20 
U.S.C. 1001, 1061). 
(6) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Housing and Urban Development. 
SEC. 3. EMERGING DEVELOPER FUND PROGRAM. 
(a) IN GENERAL.—Not later than 1 year after the 
date of enactment of this Act, the Secretary shall establish 
an emerging developer fund program to provide competi-
tive grants to nonprofit housing organizations and com-
munity development financial institutions. 
(b) USE OF AMOUNTS.—Nonprofit housing organiza-
tions and community development financial institutions 
that receive amounts under this section shall use such 
amounts— 
(1) to offer financing to emerging developers 
undertaking affordable housing and community de-
velopment projects, including— 
(A) predevelopment loans; 
(B) loan loss reserves; 
(C) grants; 
(D) risk sharing; and 
(E) credit enhancements, including interest 
rate buy downs; 
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(2) to capitalize a fund to support affordable 
housing and community development projects of 
emerging developers; 
(3) to offer capacity-building training, and tech-
nical assistance programs to emerging developers; 
and 
(4) for other uses approved by the Secretary. 
(c) APPLICATION.—Each nonprofit housing organiza-
tion and community development financial institution that 
applies for a grant under this section shall submit an ap-
plication to the Secretary at such time and in such manner 
as the Secretary may reasonably require and shall— 
(1) demonstrate plans for providing comprehen-
sive training, technical assistance, and financing to 
emerging developers; and 
(2) include information about past work com-
pleted by the organization or institution. 
(d) AWARDING
OF GRANTS.—The Secretary shall 
award grants under this section based on the ability of 
an applicant to— 
(1) identify and quantify the need for develop-
ment capacity building in the community of focus, 
including emerging developers with an intent to pur-
sue affordable housing and community development 
projects, including in distressed communities; 
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(2) provide comprehensive real estate develop-
ment capacity building and ongoing technical assist-
ance, including by helping emerging developers to— 
(A) develop and manage a construction 
budget; 
(B) determine financing needs; 
(C) identify and secure sources of private 
and public capital, including preparing applica-
tions for tax credits under section 42 of the In-
ternal Revenue Code of 1986; 
(D) structure capital stacks; 
(E) understand loan terms; 
(F) conduct business planning; 
(G) conduct strategic planning; 
(H) prepare bids; 
(I) structure financial statements; and 
(J) implement bonding strategies; 
(3) provide affordable lending products for af-
fordable 
housing 
and 
community 
development 
projects, such as predevelopment loans and other 
relevant products; 
(4) offer mentoring and networking opportuni-
ties for emerging developers; 
(5) build partnerships with institutions of high-
er education, including community colleges and part 
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B institutions, to provide real estate development 
course work and other resources to current and as-
piring real estate developers; 
(6) provide ongoing technical assistance after 
completion of any curriculum offered at the institu-
tions described in paragraph (5); and 
(7) track program outcomes, including the total 
number and volume of loans originated, total devel-
opment costs, geographic areas served, and income 
streams created for the borrower. 
(e) PRIORITY.—When awarding grants under this 
section, the Secretary shall prioritize organizations that— 
(1) are providing lending or technical assistance 
to emerging developers— 
(A) with limited experience; 
(B) who are undercapitalized; or 
(C) who intend to focus on the develop-
ment of affordable housing and community de-
velopment projects in distressed communities 
and high opportunity areas; and 
(2) have a history of providing support to 
emerging developers. 
(f) LIMITATION.—No organization or institution may 
receive an award amount under this section that is greater 
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than 15 percent of the amount appropriated pursuant to 
subsection (h). 
(g) COORDINATION WITH OTHER FEDERAL AGEN-
CIES.—The Secretary shall coordinate with the Secretary 
of the Treasury with respect to the alignment of program 
under this section and reporting requirements under this 
section with similar requirements of the Community De-
velopment Financial Institutions Fund under the Commu-
nity Development Banking and Financial Institutions Act 
of 1994 (12 U.S.C. 4701 et seq.). 
(h) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to carry out this section 
$50,000,000 for each of fiscal years 2026 through 2030. 
Æ 
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