HUD Announces $174 million will be available through NHTF
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. On May 4, 2016, HUD announced the first funding allocated through the NHTF, nearly $174 million available for producing, preserving, and rehabilitating rental housing for ELI households. For a link to read state by state allocations, click here.
On April 28, 2016 HUD posted the National Housing Trust Fund (NHTF) Allocation Plan guidance. To read the guidance, click here. For the information and examples on what states are doing to complete the Allocation Plan, go to the National Low income Housing Coalition website: http://nlihc.org/issues/nhtf
Focus Is Now on Increasing Funding
The National Housing Trust Fund 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.
While the allocation of funding from Fannie Mae and Freddie Mac is an exciting first step, securing ongoing funding at a significantly higher volume is essential to address the growing housing needs of people working low wage jobs, seniors and people with disabilities relying on limited incomes, young families and others with extremely low incomes. On March 18, 2013, the National Low Income Housing Coalition (NLIHC) and Right to the City announced the launch of the United for Homes campaign to reshape U.S. tax policy to make affordable housing more available to the nation’s 10.1 million extreme low-income renter households. The centerpiece of the campaign is a proposal to modify the mortgage interest deduction for higher income Americans and invest the savings in the NHTF. Click here to learn more.