DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ISSUES RULE: SECTION 3 PROJECT THRESHOLD UPDATES FOR CREATING ECONOMIC OPPORTUNITIES FOR LOW- AND VERY LOW-INCOME PERSONS AND ELIGIBLE BUSINESSES

WASHINGTON, Feb. 13 -- Department Of Housing And Urban Development has issued a rule called: Section 3 Project Threshold Updates for Creating Economic Opportunities for Low- and Very Low-Income Persons and Eligible Businesses.

The rule was published in the Federal Register on Feb. 13 by Joseph DeFelice, Assistant Deputy Secretary for Field Policy and Management.

Summary: The Section 3 rule "Enhancing and Streamlining the Implementation of Section 3 Requirements for Creating Economic Opportunities for Low- and Very Low-Income Persons and Eligible Businesses" published in the Federal Registeron September 29, 2020, includes a requirement that the HUD Secretary update Section 3 project thresholds "not less than once every 5 years based on a n...