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The U.S. Department of Treasury recently announced that it will allow state, local, and tribal governments more flexibility to use COVID-19 rescue funds to boost the supply of affordable housing, including permission to issue direct long-term project loans. The issued guidance permits State and Local Fiscal Recovery Funds (SLFRF) to fund the full principal amount of long-term affordable housing loans and expands the lost of programs for which the SLFRF can be used for affordable housing.
