Communities Sought for Promise Zone Status – NMP Skip to main content

Communities Sought for Promise Zone Status

Dec 22, 2015
The Obama Administration is seeking its third and final round of applications for federal Promise Zone status

The Obama Administration is seeking its third and final round of applications for federal Promise Zone status.

The Promise Zone program combines federal resources with local initiatives to improve local economic, educational, health and housing opportunities in cities, rural areas and tribal reservations. The eligibility criteria includes having a contiguous boundary, a high poverty rate and a population within the area not exceeding 200,000 residents. The U.S. Departments of Housing & Urban Development and Agriculture coordinate the program.

“Promise Zones are transforming communities through targeted investments and the breaking down of government siloes to make a real difference in people’s lives,” said HUD Secretary Julián Castro. “We believe where you live shouldn’t determine what you can achieve.” The deadline for submitting Promise Zone applications is February 23, 2016, and seven new Promise Zones will be announced in the spring.

The Promise Zone designations have generated some controversy, as the program seemed to favor urban centers with Democratic political leadership. Among the program participants are San Antonio (where Castro served as mayor before becoming HUD secretary), Los Angeles, Philadelphia, St. Louis and Hartford, Conn. 

About the author
Published
Dec 22, 2015
July CPI Eases Mortgage-Rate Risk, But Doesn’t Promise Relief

Consumer inflation rose just 0.1% in July, reducing pressure for a September Fed rate hike as mortgage rates remain near their highest levels of the year

Aug 13, 2026
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Jul 02, 2026