Promoting Affordable Housing Near Transit Act

Promoting Affordable Housing Near Transit Act

This bill authorizes recipients of certain federal transit assistance to transfer property that is no longer needed to local governments, nonprofits, or other third parties for transit-oriented development projects that support affordable housing and meet other specified criteria.

Bill 117 HR 3680, also known as the Promoting Affordable Housing Near Transit Act, aims to address the issue of affordable housing in close proximity to public transportation options. The bill was introduced in the US Congress with the goal of promoting the development of affordable housing near transit hubs, such as bus stops, train stations, and subway lines.

The bill outlines several key provisions to achieve this goal. Firstly, it calls for the establishment of a grant program to provide funding to local governments and developers for the construction of affordable housing near transit. This funding would help offset the costs associated with building in high-demand areas and encourage the development of more affordable housing options.

Additionally, the bill includes incentives for developers to include affordable housing units in their transit-oriented developments. This could include tax breaks or other financial incentives to make it more economically feasible for developers to include affordable units in their projects. Furthermore, the bill emphasizes the importance of community engagement in the development of affordable housing near transit. It calls for input from local residents and stakeholders to ensure that the housing meets the needs of the community and is integrated seamlessly into the existing neighborhood. Overall, the Promoting Affordable Housing Near Transit Act seeks to address the pressing issue of affordable housing by leveraging the benefits of public transportation. By incentivizing the development of affordable housing near transit hubs and involving the community in the planning process, the bill aims to create more accessible and sustainable housing options for all Americans.