The affordable housing provisions included in the House-passed Jobs for Main Street Act of 2010 did not make it into the final bill, the HIRE Act, which President Obama signed into law.

The House passed the Jobs for Main Street Act of 2010, which would allocate $1 billion for HUD to help "build, preserve and rehabilitate" affordable homes.

The Department of Housing and Urban Development released for public comment its proposed rule on how it would allocate the trust fund monies.

In Obama's FY 2010 budget outline, $1 billion will be used to create an Affordable Housing Trust Fund. The fund will "develop, rehabilitate, and preserve affordable housing targeted to very-low income households." The provision does not address how many affordable housing units will be added to mixed-income neighborhoods.

Although an Affordable Housing Trust Fund has not been created yet, the stimulus bill [PDF] Obama signed into law allocates $2 billion for the Neighborhood Stabilization Program to create more affordable housing and an additional $1 billion to the Community Development Block Grant program.

Shaun Donovan, President Obama's choice for housing secretary, oversaw the nation's largest affordable housing plan as commissioner of the New York City Department of Housing Preservation and Development, a job he had held since 2004. Prior to that, Donovan was the managing director of Prudential Mortgage Capital Company's affordable housing investments. He was also a consultant to a commission that suggested how to provide more housing opportunities.