We use cookies to improve security, personalize the user experience,
enhance our marketing activities (including cooperating with our marketing partners) and for other
business use.
Click "here" to read our Cookie Policy.
By clicking "Accept" you agree to the use of cookies. Read less
Housing and Community Development Assistance [HUD]
Understanding Housing and Community Development Assistance [HUD]
Definition & Meaning
The term Housing and Community Development Assistance refers to financial support provided through programs managed by the U.S. Department of Housing and Urban Development (HUD). This assistance can take various forms, including grants, loans, loan guarantees, cooperative agreements, or contracts. Specifically, it encompasses community development funds such as community development block grants and loans guaranteed under section 108 of the Housing and Community Development Act of 1974, as amended. However, it does not include financial assistance offered through insurance contracts or guarantees.
Table of content
Legal Use & context
This term is commonly used in the context of federal housing programs aimed at improving living conditions for low and very low-income individuals. Legal practitioners may encounter this term in civil law, particularly in cases involving housing rights, community development, and urban planning. Users can manage certain aspects of these programs through legal forms and templates available from resources like US Legal Forms, which can simplify the application process for assistance.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, a local government may apply for community development block grants to fund a project that revitalizes a neighborhood, providing affordable housing options for residents. Another example (hypothetical example) could involve a nonprofit organization securing a loan guarantee under section 108 to develop a mixed-use facility that includes affordable housing and community services.
Relevant laws & statutes
The primary law governing Housing and Community Development Assistance is the Housing and Community Development Act of 1974. This act outlines the framework for federal funding and assistance programs aimed at improving housing and community development for low-income populations.
State-by-state differences
Examples of state differences (not exhaustive):
State
Key Differences
California
Offers additional state-funded programs for housing assistance.
Texas
Utilizes a different set of guidelines for community development block grants.
New York
Has specific regulations for urban development projects funded by HUD.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Key Differences
Community Development Block Grant
A specific type of funding provided by HUD for community development.
Housing and Community Development Assistance includes various funding types, while block grants are a subset.
Loan Guarantee
A promise by HUD to cover a loan if the borrower defaults.
Loan guarantees are one form of assistance, while the broader term includes grants and contracts.
Common misunderstandings
What to do if this term applies to you
If you believe you qualify for Housing and Community Development Assistance, start by researching available programs through HUD. You can find useful templates and forms on US Legal Forms to help you apply. If the process seems complex or you need specific legal advice, consider consulting a legal professional who specializes in housing law.
Find the legal form that fits your case
Browse our library of 85,000+ state-specific legal templates.