Housing Trust Fund
Housing trust funds are distinct funds established by city, county or state governments to receive ongoing dedicated sources of public funding to support the preservation and production of affordable housing and increase opportunities to access decent affordable homes.
Housing trust funds systemically change reliance on annual budget allocations by shifting to committing dedicated public revenue to affordable housing. There are now 38 state housing trust funds and more than 350 city and county housing trust funds in operation. They dedicate in excess of $750 million each and every year to help address critical housing needs throughout the country.
Housing trust funds provide a steady stream of reliable revenue to support the complexities of the affordable housing industry. Because the funds are dedicated, they are usually the most flexible money available for affordable housing and allow for maximum efficiency in the use of these funds. In addition, they encourage the leveraging of other public and private dollars.
Most housing trust funds are created by housing advocates as members of community-based organizations or coalitions. Typically, they recognize the impact a lack of affordable housing has on their members and communities. A campaign starts by those most concerned, coming together and talking about the alternatives for a housing trust fund.
Housing trust fund campaigns are complex and lengthy. The average campaign requires three years of work. But by working together, tasks can be divided and influence increased. The vast majority of existing housing trust funds have been created in just this way.
The State of Idaho has an established Housing Trust Fund but it is not funded.
A Workbook for Creating a Housing Trust Fund
Housing Trust Fund Progress Report 2002 (describes HTFs across the country; how they work; how they are funded)
These two documents can be found at the Center for Community Change website:
http://www.communitychange.org/issues/housingtrustfunds/publications/
Policy Link
http://www.policylink.org/EDTK/HTF/
National Housing Trust Funds
http://www.nhtf.org/
The Philadelphia Housing Trust Fund Campaign
http://www.pacdc.org/TrustFund/
Housing Trust of Santa Clara County, California
http://www.housingtrustscc.org/ |
