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61 November 2024 J O U R N A L November 2024 » The expedited process will allow HUD to quickly provide regulatory and administrative relief to recipients of the following HUD programs: Community Development Block Grant (CDBG), HOME Investment Partnerships (HOME), Housing Trust Fund (HTF), Housing Opportunities for Persons with AIDS (HOPWA), Emergency Solutions Grant (ESG), and Continuum of Care (CoC). To expedite the use of these funds, HUD's state and local partners impacted by declared disasters can now access waivers through an expedited approval process. Examples of HUD's flexibilities include: • HUD may suspend a cap limiting CDBG expenditures for public services to 15% so that CDBG grantees can pay for additional support services for individuals and families affected by declared disasters. Services could include the provision of food, emergency shelter, case management, and related services to help residents in declared disaster areas until long-term recovery resources become available. • When extensive damage and destruction to the housing stock occurs in impacted areas HUD may enable CDBG grantees to replace affordable housing units that were lost as a result of severe weather, waiving restrictions on new construction. • The HOME matching contribution requirement may be waived for communities in the declared disaster areas. • ESG may be used for more than the usual 24 months on rental assistance and housing relocation stabilization services for low-income individuals and families. HUD's role in supporting communi- ties in preparing for, responding to, and recovering from disasters continues to expand as the frequency and intensity of disasters increase. These announce- ments build on the efforts to bolster how HUD addresses disaster recovery, including the recent establishment of the Office of Disaster Recovery and Office of Disaster Management. HUD and FEMA recently published a report on the Pre-Disaster Housing Planning Initiative to promote collab- orative approaches to disaster housing recovery challenges and to bolster state planning for housing recovery before di- sasters occur. These steps will strength- en the agency's disaster and resilience work and expedite the recovery process for communities so that assistance can quickly reach those who need it most. FANNIE MAE ENHANCES ITS EXPANDED HOUSING CHOICE PROGRAM F annie Mae has announced enhancements to its Expanded Housing Choice (EHC) initiative, making the program available in all jurisdictions without a source of income protections, for new loans to multi- family property owners who accept U.S. Department of Housing & Urban Development (HUD) Housing Choice Vouchers (HCVs). The HCV program helps very-low-in- come families, senior citizens, and people with disabilities afford stable and quality housing in the private market. Fannie Mae's Expanded Housing Choice, which the company launched in April 2022 and has extended through April 2026, was established to expand housing opportu- nities for HCV holders by incentivizing multifamily borrowers to accept vouchers as a valid source of income. Currently, in the United States, approximately 30% of voucher holders are unable to find hous- ing that accepts their vouchers. In addition to gaining a larger renter base, borrowers and property managers who leverage the EHC program and commit to accepting HCVs can benefit from lower pricing, flexible loan terms, certainty of execution, lower turnover and vacancy rates, a steady stream of competitive rent payments backed by HUD, and the chance to support a more "We have heard loud and clear—every day counts when states, localities, and nonprofits are working to get people safely housed." —Marion McFadden, Principal Deputy Assistant Secretary for Community Planning and Development, HUD