Housing trust funds overview
The entity administering the fund determines eligible activities, which vary widely from community to community, from emergency rent assistance for families facing the threat of eviction or homelessness to gap financing for new construction of affordable housing to repairs and weatherizationModifications done on existing buildings to improve energy-efficiency and cut down utility costs, such as the installation of new windows and doors. for older homeowners. Ideally, funding for the trust fund comes from a dedicated revenue source established with the support and approval of key stakeholders. While the actual amount of funding received each year may fluctuate, securing a dedicated revenue source allows some predictability and eliminates the need to go through the budget allocation process each year.
Typically, local department of housing or community development.
Increasing the affordability of rental housing
Preserving the existing stock of market affordable rental housing
Reducing homelessness and meeting the emergency needs of homeless individuals and families
Meeting the housing and services needs of older adults and persons with disabilities
Increasing access to sustainable homeownership
Improving housing quality and safety
Expanding affordable housing in resource-rich neighborhoods
Affirmatively furthering fair housing
Strengthening communities through community development activities
Strengthening the resources and opportunities in high-poverty neighborhoods
Expanding access to public transit
Improving health of children and adults
Improving educational outcomes for children