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national housing trust fund
Victory: Congress Establishes the National Housing Trust Fund
Focus Is Now on Initial Funding
Thanks to years of dedication and hard work from housing advocates across the country, Congress established the National Housing Trust Fund as part of the federal Housing and Economic Recovery Act of 2008. This is the first new federal housing production program since the HOME program was created in 1990 and the first new production program specifically targeted to extremely low income households since the Section 8 program was created in 1974.
The focus of the National Housing Trust Fund Campaign is now securing initial funding to capitalize the NHTF. The Campaign is seeking $1 billion for the fund with an additional $65 million for project-based vouchers. On May 28, the U.S. House of Representatives passed legislation that includes the requested $1.065 billion. Focus now is to get the funding through the Senate.
The Campaign, which is being lead by the National Low Income Housing Coalition (NLIHC), was initiated in 2001 by the Center for Community Change, NLIHC, National People’s Action, Corporation for Supportive Housing, and Housing America.
Once funded, the National Housing Trust Fund will provide housing opportunity for those most in need, including families, seniors, people with disabilities and others whose incomes simply cannot compete with housing market prices. The fund is heavily focused on producing and preserving rental housing, and all funds must benefit very low income households (50% of area median income or less), with even deeper affordability targets for rental units.
To learn more about the NHTF, how the funds can be used and the allocation of funds to your state, click on the basics.
