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SFH Direct Loan and Grant Programs
December 8, 2023
Single Family Housing Section 502 Direct Loan Program - Community Land Trust Pilot
A Notification of Waivers regarding the Single Family Housing Section 502 Direct Loan Program - Community Land Trust (CLT) Pilot was published today in the Federal Register. The pilot will test alternative eligibility criteria related to community representation for CLT organizations. The Agency intends to evaluate the impact of allowing eligibility criteria other than membership open to all residents of the geographic area which could meet the intent of the statutory requirements for CLTs to have specific community representation.
The pilot provides an opportunity for eligible entities to apply for the following waivers:
- Maintaining significant representation of low-income community residents on their governing board, provided they can demonstrate this accountability requirement is met in other ways, and
- Corporate membership must be open to any adult resident of a particular geographic area.
To be eligible to participate in this pilot, organizations must be a private nonprofit entity, state or local government, Indian tribe or Tribal corporation; and meet all other CLT requirements for the Section 502 Direct Loan Program.
Affordable housing providers who meet the eligibility criteria may request approval to take part in this pilot by providing information sufficient to determine their eligibility as described in the notification to the applicable state office. State office information can be found online at https://www.rd.usda.gov/browse-state.
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