Several actions in the plan could impact cities, including providing incentives for cities to reform zoning and land use policies.
The Biden-Harris Administration announced last week the release of its Housing Supply Action Plan, which includes initiatives that seek to close the housing supply gap in five years.
The plan includes legislative and administrative action that seeks to construct and preserve hundreds of thousands of affordable housing units, assist renters with high rental costs, and boost homeownership opportunities.
Highlights of the plan
Among the highlights of the plan are:
- Incentives for cities to implement local land use and zoning reforms. The administration will leverage Bipartisan Infrastructure Law funding to reward jurisdictions that have put in place land-use policies that promote density. It is also integrating affordable housing incentives into Department of Transportation (DOT) and Economic Development Administration funding programs. In addition, there will be new funding to support cities that embark on land use and zoning reform.
- New financing for housing production and preservation. This will include:
- Exploring new loan products for manufactured housing and accessory dwelling units.
- Additional federal tax credits for low- and middle-income homebuyers.
- Federal grants for affordable housing production.
- Improving and expanding existing federal financing.
The White House outlined the details of the Housing Supply Action Plan in a May 16 press release.