Housing trust fund

The Department of Housing and Urban Development Assistant Secretary for Community Planning and Development awarded the Arkansas Economic Development Commission $3,001,259.36 under the Housing Trust Fund (CFDA 14.275) on March 2, 2026, for the production, preservation, and rehabilitation of rental housing targeting extremely low-income households.

The recipient must allocate at least 80 percent of funds to rental housing acquisition, construction, or rehabilitation; up to 10 percent may support homeownership activities; and up to 10 percent may cover reasonable administrative and planning costs. Up to 30 percent of the grant may fund operations of rental housing acquired, constructed, or rehabilitated with these funds. Assistance takes the form of grants, equity investments, or interest-bearing or non-interest bearing loans to developers and housing providers. All Housing Trust Fund grants target households with incomes at or below 30 percent of area median income or the federal poverty line, whichever is greater.

The award runs through March 2, 2033, with performance in Little Rock, Arkansas. All funds must be committed to projects within 24 months and expended within 5 years of award. The Housing Trust Fund is administered by HUD and funded through contributions from government-sponsored enterprises Fannie Mae and Freddie Mac rather than annual Congressional appropriations. The Arkansas Economic Development Commission operates as a pass-through entity, sub-awarding portions to local service providers and nonprofit organizations implementing housing activities statewide.