The Preservation and Reinvestment Initiative for Community Enhancement Act, or PRICE Act, establishes a new competitive grant program under Title I of the Housing and Community Development Act of 1974. This program empowers the Secretary to award funds to eligible recipients for the development and improvement of manufactured housing communities. The core purpose is to support communities that are affordable to low- and moderate-income persons and are either resident-owned or committed to maintaining long-term affordability. Eligible projects for grant funding are extensive, covering community infrastructure , facilities, and utilities, as well as the reconstruction, repair, or replacement of existing housing units. Funds can also be used for planning, resident health, safety, and accessibility activities, and land acquisition for community expansion. Furthermore, the program supports resident and community services like relocation assistance, eviction prevention, and down payment assistance, all aimed at enhancing overall living conditions and resident well-being. In awarding these grants, the Secretary is mandated to prioritize applications that primarily benefit low- and moderate-income residents and ensure the preservation of long-term housing affordability. While the Secretary may waive certain statutory or regulatory requirements to facilitate the use of funds, critical protections such as fair housing, nondiscrimination, labor standards, and environmental standards remain in effect. The bill authorizes the appropriation of necessary sums and allows for potential set-asides for Indian Tribes and tribally designated housing entities.