1 / 7

HOUSING TRUST FUND

HOUSING TRUST FUND Housing Trust Fund (HTF) provides funds to create and preserve affordable housing for low-income and persons with special needs. HTF supports community efforts to ensure the availability of safe, decent and affordable housing.

keiji
Download Presentation

HOUSING TRUST FUND

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. HOUSING TRUST FUND • Housing Trust Fund (HTF) provides funds to create and preserve affordable housing for low-income and persons with special needs. • HTF supports community efforts to ensure the availability of safe, decent and affordable housing. • Eligible applicants are non-profits, local governments, housing authorities, and tribes. • HTF provides loans and grants for construction, acquisition and rehabilitation of multi-family and single-family housing. • RESULTS and ACHIEVEMENTS • Since 1989 HTF has invested more than $390 million in new and improved housing • HTF has leveraged more than $1.56 billion in private and public sector support • Improved or increased the stock of affordable housing in Washington by more than 25,000 units • HTF has over 1000 low-income properties statewide • HTF has invested in projects in 38 of 39 counties in Washington • Current demand for funds is approximately three times the available funds • 2005-2007 HTF will invest over $85,000,000 in affordable housing.

  2. HOMEOWNERSHIP • Since 1989 HTF has invested more than $50 million to provide affordable homeownership opportunities for low-income households. • HTF has provided assistance to 3000 households to become homeowners. • HTF leveraged more than $12 million in private sector support in the last funding round. • HTF provides homebuyers with assistance through non-profits by: • Funds for downpayments • Providing second mortgages • Investing in Community Land Trusts • Providing acquisition/ construction assistance for Self-help housing projects

  3. Homeownership Investment, Housing Trust Fund Unit Type Area Median Income 1/31/2007

  4. Homeownership is an important part of the Housing Trust Fund

  5. Homeownership ModelsNumber of HTF units by model

  6. DEVELOPMENTAL DISABILITIES LEGISLATION • 1993 Washington State Legislature provided $1,000,000 for developing community based housing options for persons with developmental disabilities. • A Statewide Housing Advisory Board was created to assist in implementing the program • The program directed funds toward persons with developmental disabilities downsized from institutions, persons living in inappropriate or unaffordable housing, and persons unserved in the community. • Since 1993 the legislature has increased the provision and has provided more than $28 million dollars to create community based housing options for persons with developmental disabilities. • $5 million dollars is available for community based housing including homeownership in the 2007-2009 biennium.

  7. DEVELOPMENTAL DISABILITIES LEGISLATION • NATIONAL HOME OF YOUR OWN ALLIANCE • 1993 conference in New Hampshire sponsored by the Department of Health and Human Services • National Home of Your Own Alliance provided grants for technical assistance for 5 states each year. • Washington State Housing Trust Fund received a technical assistance grant in 1995 to develop a model to provide affordable homeownership opportunities to persons with developmental disabilities. • The National Home of Your Own Alliance collaborated with Fannie Mae Mortgage to create a customized mortgage product to serve persons with disabilities. • HomeChoice provides downpayment assistance of up to $15,000 for persons with disabilities including families with disabled children. • Washington State began to participate in this nationwide program providing HomeChoice downpayment assistance in 1997. • Washington State in 2005 has produced the largest number of homeownership loans using the HomeChoice mortgage product.

More Related