About Housing Trust Funds
WHAT ARE HOUSING TRUST FUNDS?
Housing trust funds are the single most impressive advance in the affordable housing field in the United States over the last several decades. Because housing is at the very foundation of every healthy community, local and state governments are recognizing that they need to contribute public resources to adequately house their residents.
Housing trust funds systemically change reliance on annual budget allocations by shifting to committing dedicated public revenue to affordable housing through the creation of housing trust funds. 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 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.
To get more information, download: "Housing Trust Fund Progress Report 2002"
WHAT IS THE HOUSING TRUST FUND PROJECT?
The Housing Trust Fund Project is the only comprehensive source of information and technical assistance on housing trust funds. It is part of the Center for Community Change and works with community based organizations interested in creating housing trust funds.
The Housing Trust Fund Project has developed a highly successful program to assist housing trust fund efforts in vastly different political and economic climates. The Project stays with these multi-year campaigns until they succeed in creating new housing trust funds.
The Housing Trust Fund Project provides information and technical assistance to help enable housing trust fund campaigns to be successful. We work with individual organizations, as well as coalitions, to enable everyone to understand all components of a housing trust fund and to ensure it is designed to be effective. We provide technical assistance throughout the campaign to ensure success at every step in winning passage of the housing trust fund.
To request technical assistance, contact: htfp@communitychange.org
WHY ARE HOUSING TRUST FUNDS SUCCESSFUL?
Housing trust funds now have a momentum in this country that is unparalleled. Huge advances have been made in the design and operation of affordable homes. Communities are recognizing that many families that work within their borders cannot afford to live there. The lack of affordable housing opportunities is costly to communities by increasing the need for emergency services, transportation options, and many other municipal expenditures. In contrast, support for the preservation and production of affordable housing creates jobs, adds to the local tax base, increases family stability, and reduces health, education, and transportation costs. Providing an adequate supply of decent affordable homes makes good economic sense and enables families to reach their full potential.
Housing trust funds provide a steady stream of reliable revenue to support the complexities of the 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 as well as encourage leveraging of other public and private dollars.
To see how some of these benefits are identified, download: "Home Sweet Home: Why America Needs a Housing Trust Fund."
WHO SHOULD GET INVOLVED IN HOUSING TRUST FUNDS?
Most housing trust funds are created by housing advocates as members of community based organizations or coalitions. Typically, they recognize the impact needing 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.
LIST OF HOUSING TRUST FUNDS
There are over 400 housing trust funds in the United States – from cities, counties, states, and even regional areas. Housing trust funds have grown substantially in the last 30 years. This list is up-to-date as of July 2005.
City
Housing Trust Funds (pdf, 42k)
There are 293 city housing trust funds in 25 states. Download this PDF for complete
listing.
County
Housing Trust Funds (pdf, 32k)
There are 76 county housing trust funds in 10 states. Download this PDF for
complete listing.
Multi-jurisdictional Housing Trust Funds (pdf, 25k)
State
Housing Trust Funds (pdf, 31k)
There are 43 housing trust funds in 37 states. Connecticut, Kentucky, Nebraska,
Nevada, Oregon and Washington each have one additional housing trust fund. Download
this PDF for complete listing.
Special
Note About Massachusetts, New Jersey, Pennsylvania and Washington
(pdf, 30k)
Massachusetts, New Jersey, Pennsylvania and Washington are states where legislation
exists that encourage local housing trust funds. Only Washington and Massachusetts
have state housing trust funds in addition to enabling legislation. Download
this PDF for complete description of these state programs.
To learn more about housing trust funds campaigns, ask for a copy of "Winning at the Local Level: 5 Housing Trust Fund Campaigns Tell Their Stories," by emailing: htfp@communitychange.org or download: "A Workbook to Create a Housing Trust Fund."
 |
