US Treasury to devote extra $100 mln over 3 years to affordable housing
June 24, 2024 by As the Biden administration looks for ways to increase the supply of affordable housing, Janet Yelle, the U.S. Treasury Secretary announced $100 million in new finance to address the shortage. Funding will span over 3 years and to support the financing of new projects housed at the Community Development Financial Institutions (CDFI) Fund. Currently the 11 Federal Home Loan Banks are legally required to earmark 10% of their net income to housing programs. Yellen is asking for these banks to devote 20%.