PRICE Act

H.R. 4477, the PRICE Act (Preservation and Reinvestment Initiative for Community Enhancement Act), would create a competitive grant program administered by the Department of Housing and Urban Development to fund improvements to manufactured housing communities. The bill would provide grants to eligible recipients including manufactured housing communities themselves, local governments, nonprofits, Indian tribes, and community development financial institutions. Eligible communities must serve low- and moderate-income residents earning no more than 120 percent of the area median income, and must either be resident-owned or committed to remaining affordable long-term. Grant funds could be used for various projects including reconstructing or repairing homes, replacing manufactured homes, improving community infrastructure, planning for community development, enhancing resident health and safety, and providing resident services such as eviction prevention assistance. The bill is currently under consideration by the House Committee on Financial Services and has not yet been voted on by the full chamber.