The St. Louis Housing Trust Fund has been operating for ten years awarding grants and loans to nonprofits, faith-based agencies, for-profit developers with housing partners and neighborhood organizations. More than $65 million has been awarded to partner agencies and leveraged by an additional $420 million in investments, producing some 2,400 homes statewide.
Voters approved a special Use Tax on major purchases by individuals and corporations based outside the city limits in 2001. The Trust Fund is administered by the Affordable Housing Commission. All funds must benefit families and individuals with incomes at or below 80% of the area median income. A minimum of 40% of the funds must benefit families earning 20% and below the area median income. Funds are provided for the creation of new affordable homes, accessibility modifications, homeless services and home repair, among other activities.
Mayor Francis Slay introduces the report by stating, “Thanks to the voters of St. Louis, we are one of only a handful of local governments with a dedicated source of revenue to create more affordable housing and expand supportive services. It shows our commitment to giving thousands of low income and disadvantaged citizens a hand up to self-sufficiency and prosperity and to making important investments to improve our impoverished neighborhoods. We will see a payoff for years to come.”
In FY2012, $4 million in awards were made in these categories:
- Accessibility Modifications — $86,400
- Construction/Major Rehab — $762,500
- Education & Counseling — $190,000
- Education/Training & Rent/Mortgage Subsidies — $168,000
- Neighborhood Stabilization — $64,000
- Home Repairs — $140,400
- Homeless Prevention/Shelter — $976,000
- Lead Abatement — $500,000
- Rent/Mortgage/Utility Subsidy — $278,700
- Transitional Housing — $658,000
- Foreclosure Prevention — $176,000
“The people, the programs and the stories in this report illustrate the value of affordable housing to the health and vitality of our City. Affordable and stable housing has a profound effect on childhood development, educational performance, and the economic outcomes for families and individuals. Families and neighborhoods thrive when everyone can live and enjoy life free from deprivation of basic human needs,” says Mayor Francis Shay in his continued support of the St. Louis Housing Trust Fund.
Contact: Angela Conley, Affordable Housing Commission, 1520 Market Street, Suite 2080, St. Louis, MO 63103 (314-657-3880)