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The U.S. Department of the Treasury recently announced new guidance to increase the ability of state, local, and tribal governments to use American Rescue Plan (ARP) funds to boost the supply of affordable housing in their communities.
The context: The updated Treasury guidance follows a commitment in the Biden administration’s Housing Supply Action Plan to leverage American Rescue Plan funds for investments in affordable housing as part of a broader effort to increase the nation’s housing supply and lower housing costs.
