Housing and Community Development Assistance [HUD] Law and Legal Definition

Pursuant to 24 CFR 135.5 [Title 24 Housing and Urban Development; Subtitle B Regulations Relating to Housing and Urban Development; Chapter I Office of Assistant Secretary for Equal Opportunity, Department of Housing and Urban Development; Subchapter B Employment and Business Opportunity; Part 135 Economic Opportunities for Low and Very Low-Income Persons; Subpart A General Provisions], the term Housing and Community Development Assistance means “any financial assistance provided or otherwise made available through a HUD housing or community development program through any grant, loan, loan guarantee, cooperative agreement, or contract, and includes community development funds in the form of community development block grants, and loans guaranteed under section 108 of the Housing and Community Development Act of 1974, as amended. Housing and community development assistance does not include financial assistance provided through a contract of insurance or guaranty.”