HUD’s Office of Public and Indian Housing (PIH) has introduced Notice PIH 2022-11, inviting public housing agencies (PHAs) to apply for the new Moving to Work Demonstration (MTW) “Asset Building Cohort.” This initiative aims to help assisted residents build financial assets and credit through three options: the Opt-Out Savings Account, Credit Building, and PHA-Designed Asset Building programs. The goal is to enhance household stability and financial independence by increasing savings and credit scores. PIH plans to add 30 PHAs to this cohort, with a public participation process required for approval. The context of this initiative is to address affordable housing challenges by promoting financial self-sufficiency among residents, potentially easing the burden on public housing systems and improving long-term housing affordability and stability.

https://nlihc.org/resource/hud-pih-announces-asset-and-credit-building-moving-work-mtw-cohort