Housing growth is measured by comparing two five-year periods
What the document says“means the average annual percentage increase in the number of housing units in the jurisdiction of the eligible recipient, as calculated by the Secretary, during the period-- (A) beginning with the third quarter of the sixth preceding fiscal year; and (B) ending with the third quarter of the preceding fiscal year.”
The section defines a current annual growth rate as the average annual percentage increase in housing units from the third quarter of the sixth preceding fiscal year to the third quarter of the preceding fiscal year, and a prior annual growth rate as the same measure from the third quarter of the eleventh preceding fiscal year to the third quarter of the sixth. The housing growth improvement rate is the difference between the two divided by the sum of their absolute values. An extremely high-growth recipient is one whose current annual growth rate is at or above 4 percent.
What the document actually says“means the average annual percentage increase in the number of housing units in the jurisdiction of the eligible recipient, as calculated by the Secretary, during the period-- (A) beginning with the third quarter of the sixth preceding fiscal year; and (B) ending with the third quarter of the preceding fiscal year.”
This is the average yearly rise in the number of homes in a place. The housing agency works it out. It covers the five years up to last year.
A second rate covers the five years before those. The two are then compared. That comparison is what decides the money.
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