activities that provide homeownership opportu-
nities. 
(E) Providing down payment assistance to 
prospective homebuyers. 
(F) Establishing and operating community 
land trusts to provide affordable rental and 
homeownership opportunities, including shared 
equity homeownership opportunities. 
(G) Demolishing abandoned or distressed 
structures, but only if such activity is part of a 
strategy that incorporates rehabilitation or new 
construction and efforts to increase affordable 
housing and homeownership, except that not 
more than 10 percent of any grant made under 
this section may be used for activities under 
this subparagraph unless the Secretary deter-
mines that such use is to replace units in an ef-
fort to increase affordable housing or homeown-
ership. 
(H) Establishing or operating land banks 
to maintain acquire, redevelop, or sell properties 
that are abandoned or distressed. Preference 
among applications proposing activities under 
this subparagraph shall be given to applications 
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that promote distribution of properties for af-
fordable housing and small businesses. 
(I) Improving parks, sidewalks, street 
lighting, and other neighborhood improvements 
that impact quality of life in the targeted neigh-
borhoods, except that not more than 5 percent 
of any grant made under this section may be 
used for activities under this subparagraph. 
(J) In connection with any other eligible 
activity under this paragraph, working with 
resident leaders and community groups to un-
dertake community planning, outreach, and 
neighborhood engagement, consistent with the 
goals of increasing homeownership, stabilizing 
neighborhoods, reducing vacancy rates, creating 
jobs, increasing or stabilizing residential and 
commercial property values, and meeting other 
neighborhood needs, except that not more than 
10 percent of any grant made under this sec-
tion may be used for activities under this sub-
paragraph. 
(4) AFFORDABILITY TERMS.— 
(A) RENTAL UNITS.—In the case of prop-
erty assisted pursuant to paragraph (3) con-
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taining any dwelling units that are made avail-
able for rental— 
(i) such units shall be available for 
rental only by a household having an in-
come that does not exceed 60 percent of 
the median income for the area in which 
such unit is located; 
(ii) such units shall remain affordable 
for at least 30 years; 
(iii) such property may be a mixed-use 
property; and 
(iv) such unit shall be maintained in 
habitable condition, as defined by the local-
ity in which the property is located. 
(B) HOMEOWNERSHIP UNITS.—In the case 
of property assisted pursuant to paragraph (3) 
consisting of a dwelling unit, or containing any 
dwelling units, made available for homeowner-
ship, such unit or units— 
(i) shall be available for purchase only 
to by a household having an income that 
does not exceed 120 percent of the median 
income for the area in which such unit is 
located; 
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(ii) if made available through a shared 
equity homeownership program, shall re-
main affordable for at least 30 years; and 
(iii) if not made available through a 
shared equity homeownership program— 
(I) shall remain affordable for a 
period of years as determined by the 
partnership, which shall not be short-
er than 5 years from the sale of the 
unit; and 
(II) shall be subject to resale or 
recapture provisions that— 
(aa) are established by the 
partnership to ensure that the af-
fordability term may be met or 
funds may be redeployed for 
neighborhood revitalization sup-
port activities; 
(bb) may be waived in cases 
of hardship or market deprecia-
tion; and 
(cc) provide that, in the case 
of a resale, the partnership may 
maintain 
preemptive 
purchase 
options in order to sell the prop-
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erty to another income qualified 
purchaser. 
If a property converts between rental and homeown-
ership or shared equity homeownership, the afford-
ability terms of the new tenure type shall be utilized 
upon occupancy. 
(c) APPLICATIONS.— 
(1) IN GENERAL.—To apply to receive a grant 
under this section, an eligible local partnership shall 
submit to the Secretary an application at such time, 
in such manner, and containing such information as 
the Secretary may require. 
(2) GRANT
RECIPIENT
PRIORITY
SELECTION 
CRITERIA.—The Secretary shall prioritize awarding 
grants based on the following criteria: 
(A) The severity of the locality’s indicators 
of distress under subsection (b)(2). 
(B) The extent to which the activities pro-
posed will— 
(i) in the case of rental housing, ben-
efit households having incomes not exceed-
ing 30 percent of the median income for 
the area; and 
(ii) in the case of homeownership 
housing, including shared equity homeown-
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ership, benefit households having incomes 
not exceeding 80 percent of the median in-
come for the area. 
(C) Whether the activities proposed will 
promote affordable homeownership and the ex-
tent to which such affordability terms will be 
preserved. 
(D) The extent to which an eligible part-
nership that includes a public housing agency 
will use housing choice vouchers to support 
homeownership for households at or below 60 
percent of area median income. 
(E) The demonstrated capacity of an eligi-
ble local partnership to execute the proposed el-
igible neighborhood revitalization support activi-
ties. 
(F) The demonstrated community plan-
ning, outreach, and engagement practices of an 
eligible local partnership. 
(G) The depth and breadth of the commu-
nity partnership supporting the application. 
(H) The extent to which existing residents 
are assisted to prevent displacement. 
(I) The extent to which the proposed 
neighborhood revitalization support activities 
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would help close the racial wealth gap by in-
creasing minority homeownership, ensuring eq-
uitable access to housing and economic oppor-
tunity, and countering the ongoing legacy of 
redlining policies. 
(J) The extent to which development of 
new units are water and energy efficient. 
(K) The feasibility of the proposed neigh-
borhood revitalization support activities consid-
ering local market conditions. 
(L) The extent to which an application 
demonstrates comprehensive community plan-
ning efforts and additional funds in hand or 
committed for activities in the geographic area 
that are not directly related to the provision of 
affordable housing, such as support for small, 
minority, and women-owned business activity in 
commercial zones in the targeted neighbor-
hoods. 
(3) GEOGRAPHICAL DIVERSITY.—The Secretary 
shall seek to make grants under this section for local 
partnerships serving geographically diverse areas of 
economic distress as defined in subsection (b)(2), in-
cluding metropolitan and underserved rural areas. 
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(d) OPERATION COSTS.—Up to 15 percent of the 
amount of each grant under this section may be used by 
the recipient for administrative and organizational support 
costs. 
(e) TECHNICAL ASSISTANCE AND CAPACITY BUILD-
ING.—The Secretary may reserve up to 1 percent of any 
funds appropriated to carry out this section for technical 
assistance activities which support grantees under this 
program and 1 percent of funds from each grant awarded 
shall be used to develop grantee capacity to meet the re-
quirements under paragraphs (1) and (2) of subsection 
(g). 
(f) FAIR HOUSING PROTECTIONS.—Funds provided 
under the program under this section may not be used 
to deny housing opportunities based on the criminal or 
eviction history, source of income, or veteran status of any 
member of a household. 
(g) ACCOUNTABILITY OF RECIPIENTS.— 
(1) REQUIREMENTS.—The Secretary shall— 
(A) require each grantee under this section 
to develop and maintain a system to ensure 
that each recipient of assistance uses such 
amounts in accordance with this section, the 
regulations issued under this section, and any 
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requirements or conditions under which such 
amounts were provided; and 
(B) establish minimum requirements for 
agreements between the grantee and the Sec-
retary, regarding assistance from grants under 
this section, which shall include— 
(i) appropriate periodic financial and 
project reporting, record retention, and 
audit requirements for the duration of the 
grant to the recipient to ensure compliance 
with the limitations and requirements of 
this section and the regulations under this 
section; and 
(ii) any other requirements that the 
Secretary determines are necessary to en-
sure appropriate grant administration and 
compliance. 
(2) PUBLICLY AVAILABLE INFORMATION.—The 
Secretary shall make information regarding the re-
sults of assistance provided with amounts from 
grants under this section publicly available, which 
shall include at least the following information: 
(A) A list of recipients of grants awarded 
under this section and the amount of each such 
grant. 
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(B) A description of each neighborhood re-
vitalization support activity carried out by each 
such recipient and the impacts associated with 
each such activity, including the change in the 
rate of minority and first-time homeownership. 
(C) The total number of housing units ac-
quired, redeveloped, or produced using grant 
amounts under this section. 
(D) The total number of housing units for 
rent, ownership, and shared equity homeowner-
ship assisted with grant amounts under this 
section and the number of bedrooms in each 
such unit. 
(E) The percentage of housing units as-
sisted with grant amounts under this section 
that are affordable to low-, very low-, and ex-
tremely low-income households. 
(F) The number of such housing units lo-
cated in areas where the percentage of house-
holds in a racial or ethnic minority group— 
(i) is at least 20 percentage points 
higher than the percentage of the popu-
lation of that minority group for the Met-
ropolitan Statistical Area; 
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(ii) is at least 20 percentage points 
higher than the percentage of the popu-
lation of all minorities for the Metropolitan 
Statistical Area; and 
(iii) exceeds 50 percent of the popu-
lation. 
(G) Any other information that the Sec-
retary of Housing and Urban Development de-
termines necessary to ensure that housing out-
comes and grant administration and compliance 
align with the purposes of this Act. 
(h) IN GENERAL.—Not later than 2 years after 
grants under this section are first awarded and again 3 
years thereafter, the Secretary shall submit to the appro-
priate Congressional Committees, and make publicly avail-
able online, a report that— 
(1) evaluates the impact of the program estab-
lished under this section; 
(2) describes demographic changes in the eligi-
ble localities served by grantees of grants under this 
section, including changes in income, race, and eth-
nicity, property values, and unemployment rates; 
(3) identifies the number of housing units as-
sisted with grant amounts under this section located 
in high- and low-poverty census tracts; 
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(4) identifies the number of accessible units cre-
ated and modified with grant amounts under this 
section and where such units are located using the 
most granular location measurement that is feasible 
such as at the Census block group level; and 
(5) identifies where housing units assisted with 
grant amounts are located in relation to community 
assets, including high performing schools and public 
transportation options. 
(i) DEFINITIONS.—In this section: 
(1) ANCHOR INSTITUTION.—The term ‘‘anchor 
institution’’ means a school, a library, a healthcare 
provider, a community college or other institution of 
higher education, or another community support or-
ganization or entity. 
(2) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate Congressional Com-
mittees’’ means the following: 
(A) The Committees on Financial Services 
and Appropriations of the House of Representa-
tives. 
(B) The Committees on Banking, Housing, 
and Urban Affairs and Appropriations of the 
Senate. 
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(3) COMMUNITY
LAND
TRUST.—The term 
‘‘community land trust’ ’’ means a nonprofit organi-
zation or State or local governments or instrumen-
talities that— 
(A) use a ground lease or deed covenant 
with an affordability period of at least 30 years 
or more to— 
(i) make rental and homeownership 
units affordable to households; and 
(ii) stipulate a preemptive option to 
purchase the affordable rentals or home-
ownership units so that the affordability of 
the units is preserved for successive in-
come-eligible households; and 
(B) monitor properties to ensure afford-
ability is preserved. 
(4) LAND
BANK.—The term ‘‘land bank’’ 
means a government entity, agency, or program, or 
a special purpose nonprofit entity formed by one or 
more units of government in accordance with State 
or local land bank enabling law, that has been des-
ignated by one or more State or local governments 
to acquire, steward, and dispose of vacant, aban-
doned, or other problem properties in accordance 
with locally-determined priorities and goals. 
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(5) NEIGHBORHOOD REVITALIZATION SUPPORT 
ACTIVITY.—The term ‘‘neighborhood revitalization 
support activity’’ means an activity described in sub-
section (b)(3). 
(6) NON-PERFORMING
MORTGAGE.—The term 
‘‘non-performing’’ mortgage means a residential 
mortgage loan that is 90 days or more delinquent. 
(7) NONPROFIT
ORGANIZATION.—The term 
‘‘nonprofit organization’’ means an organization that 
is described in section 501(c)(3) of the Internal Rev-
enue Code of 1986 (26 U.S.C. 501(c)(3)) and is ex-
empt from taxation under section 501(a) of such 
Code. 
(8) SHARED
EQUITY
HOMEOWNERSHIP
PRO-
GRAM.— 
(A) IN GENERAL.—The term ‘‘shared eq-
uity homeownership program’’ means affordable 
homeownership preservation through a resale 
restriction program administered by a commu-
nity land trust, other nonprofit organization, or 
State or local government or instrumentalities. 
(B) AFFORDABILITY
REQUIREMENTS.— 
Any such program under subparagraph (A) 
shall— 
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(i) provide affordable homeownership 
opportunities to households; and 
(ii) utilize a ground lease, deed re-
striction, subordinate loan, or similar legal 
mechanism that includes provisions ensur-
ing that the program shall— 
(I) maintain the home as afford-
able for subsequent very low-, low-, or 
moderate-income families for an af-
fordability term of at least 30 years 
after recordation; 
(II) apply a resale formula that 
limits the homeowner’s proceeds upon 
resale; and 
(III) provide the program admin-
istrator or such administrator’s as-
signee a preemptive option to pur-
chase the homeownership unit from 
the homeowner at resale. 
(j) AUTHORIZATION OF APPROPRIATIONS.— 
(1) IN GENERAL.—There is authorized to be 
appropriated 
to 
carry 
out 
this 
section 
$5,000,000,000 for each of fiscal years 2021 
through 2031. 
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(2) SET ASIDE.—The Secretary shall award at 
least $500,000,000 of any amounts appropriated 
pursuant to this subsection to eligible local partner-
ships that will provide neighborhood revitalization 
support activities to localities outside of a Metropoli-
tan Statistical Area, as designated by the Office of 
Management and Budget. The priority under sub-
section (c)(2)(I) (relating to matching funds) shall 
not apply to amounts awarded under this paragraph. 
(3) NOFA.—The Secretary shall issue a Notice 
of Funding Availability for grants under this section 
not later than the expiration of the 180-day period 
beginning upon the date of the enactment of this 
Act. 
SEC. 4. SELF-HELP HOMEOWNERSHIP OPPORTUNITY PRO-
GRAM. 
There is authorized to be appropriated for grants 
under section 11 of the Housing Opportunity Program 
Extension Act of 1996 (42 U.S.C. 12805 note) 
$250,000,000 for fiscal year 2021, which shall remain 
available until September 30, 2031. 
Æ 
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