July 25, 2017
Tuesday’s Regulatory & Legislative Roundup
- New York City’s Department of Housing Preservation and Development secured approximately 1.5 million to expand community land trusts. These funds stem from bank settlements throughout the state. New York negotiated with banks across the state regarding their past policies and procedures which have contributed to New York’s housing crisis.
- The U.S. Appropriations Committee recently passed a bill proposing new legislation. The proposed legislation will shift the practices of the United States Department of Housing and Urban Development (HUD). For instance, HUD would then have to report on all areas in which it uses “flawed income data.” If passed into law, the federal agency will have to create a new criteria for determining how it issues out it’s community block grants. Seemingly, this legislation was authored to shift a few of HUD’s practices.
