Housing Advocacy:
What are housing trust funds, and how are they being used to provide access to affordable housing?

Housing trust funds are distinct funds established by cities, counties and states that permanently dedicate a source of public revenue to support the production and preservation of affordable housing. There are at least 350 housing trust funds in the United States. Thirty-six states have created these funds and the remainder are in cities and counties. More than $500 million is spent for affordable housing through these trust funds every year and this amount is increasing. On average, for every $1 committed to a housing project by a housing trust fund, another $5-10 is leveraged in other public and private resources.

Hundreds of thousands of housing units have been supported through housing trust funds. Housing trust funds support a variety of housing activities for low and very low income households, including new construction, preservation of existing housing, emergency repairs, homeless shelters, housing-related services, and capacity building for nonprofit organizations.

At any given time, as many as fifty additional jurisdictions are considering the creation of a housing trust fund. These unique funds are a fundamental aspect of emerging housing policy in the United States. Housing trust funds have demonstrated that when government makes a commitment to address critical housing needs, the on-going dedicated source of revenue allows for more intelligent planning to address housing needs and for improved proposals submitted by the housing industry in an effort to effectively use existing resources.

Housing trust funds enable jurisdictions to elevate their funding of critical housing needs by committing resources to a process that treats affordable housing as an essential component of maintaining healthy communities. Jurisdictions have documented increased jobs, growing sales taxes, higher property tax revenues, and many other economic benefits from the operation of their housing trust funds.

Source: Housing Trust Fund Project of the Center for Community Change

About Funders Together Chronic Homelessness General Questions About Homelessness Health and Mental Illness Housing Advocacy Role of Funders Supportive Housing Family Homelessness Free Monthly E-Newsletter Sign Up for Monthly E-News and Other Announcements	Home : Question & Answers : Housing Advocacy Housing Advocacy: What are housing trust funds, and how are they being used to provide access to affordable housing? Housing trust funds are distinct funds established by cities, counties and states that permanently dedicate a source of public revenue to support the production and preservation of affordable housing. There are at least 350 housing trust funds in the United States. Thirty-six states have created these funds and the remainder are in cities and counties. More than $500 million is spent for affordable housing through these trust funds every year and this amount is increasing. On average, for every $1 committed to a housing project by a housing trust fund, another $5-10 is leveraged in other public and private resources. Hundreds of thousands of housing units have been supported through housing trust funds. Housing trust funds support a variety of housing activities for low and very low income households, including new construction, preservation of existing housing, emergency repairs, homeless shelters, housing-related services, and capacity building for nonprofit organizations. At any given time, as many as fifty additional jurisdictions are considering the creation of a housing trust fund. These unique funds are a fundamental aspect of emerging housing policy in the United States. Housing trust funds have demonstrated that when government makes a commitment to address critical housing needs, the on-going dedicated source of revenue allows for more intelligent planning to address housing needs and for improved proposals submitted by the housing industry in an effort to effectively use existing resources. Housing trust funds enable jurisdictions to elevate their funding of critical housing needs by committing resources to a process that treats affordable housing as an essential component of maintaining healthy communities. Jurisdictions have documented increased jobs, growing sales taxes, higher property tax revenues, and many other economic benefits from the operation of their housing trust funds. Source: Housing Trust Fund Project of the Center for Community Change Other questions & answers related to this topic: Who needs affordable housing? What are some of the key statistics to understand regarding the lack of affordable housing in many communities of the U.S.? Does the minimum wage provide adequate income for families and individuals seeking to rent or own a home of their own? What are some of the implications for funders interested in issues of homelessness and affordable housing? What other good resources exist for supporting the development of affordable housing in our communities? What is the Section 8 Housing Choice Voucher Program?	FOR MORE INFORMATION For more information, please visit the National Housing Trust Fund's website: SEND US YOUR QUESTIONS Find what you were looking for in Q&A? If not, click here to submit your question directly to us. READ MORE ON... Affordable Housing Chronic Homelessness Health and Mental Illness Supportive Housing

Housing Advocacy:What are housing trust funds, and how are they being used to provide access to affordable housing?

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Housing Advocacy:
What are housing trust funds, and how are they being used to provide access to affordable housing?