HOUSING TRUST FUND


cropped-561292_320989434631404_2127003943_n3-e1390196775372.jpgIssue Paper: Housing Trust Fund*

The lack of safe, affordable housing requires a renewed commitment to increase the supply of quality housing and to preserve, maintain, and improve existing housing through public/private partnerships, especially with religious groups and community organizations.                           

             Forming Consciences for Faithful Citizenship, USCCB 2011

 

The Housing Trust Fund (HTF) was created to provide resources for the development of low-income housing. Since 1987, the state has invested almost $1 billion in capital funding and helped build or maintain more than 40,000 units of affordable housing statewide. Projects can serve people with incomes up to 80 percent of area median income. However, the majority of projects funded to date serve households with special needs or incomes below 30 percent of area median income, including homeless families, seniors, farmworkers, people with mental illness, veterans, and other target populations.

 

Housing Trust Fund monies help local housing providers, including Catholic Charities agencies and Mercy Housing Northwest, build much needed affordable housing. It is an integral part of nearly all affordable housing developments in the state, and leverages funding from a broad spectrum of governmental and private sources; thus, multiplying the effects of each dollar of state funding by more than four to one.

 

In the 2007-2009 capital budget, funding for the Housing Trust Fund was $200 million, its highest appropriation since its inception. That amount fell to a low of $50 million in the 2011-2013 and 2013-2015 capital budgets. There was no capital budget in the 2014 Session, so the Housing Trust fund did not receive any additional funding.  In the 2015 Session the Housing Trust Fund received $75 million. 

2016 Legislative Session Talking Points:

  • Fund the Housing Trust Fund at the highest level possible to help build needed low-income housing throughout the state.