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On October 15, 2007 the New York Times published an editorial on the National Housing Trust Fund. Many if not all of the same arguments could be made in support of the proposed Homeless Trust Fund.

The full editorial is reprinted below:

A New Approach to Housing

The House took an important step toward easing the affordable housing crisis when it passed a bill that establishes a National Housing Trust Fund. A companion bill, which is expected to be introduced in the Senate soon, deserves to pass speedily into law.

The trust fund comes at a time when nearly half of the country’s lowest-income families are at risk of homelessness. These families often live doubled up with friends or relatives and must spend more than half of their pretax incomes on rent. They house themselves only by cutting back on food, clothing and medical care.

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Tags: Homeless Trust Funds, Housing-Trust-Fund, Supportive Housing

The Project Live Office Building and Residences is a mixed use, office building with permanent, affordable and supportive housing development sponsored by Project Live. Recently completed, the Project Live Office Building and Residences will provide two floors of office space and five (5) permanent, affordable and supportive housing units for persons with a disability.  Every unit will have it’s own living room, kitchen and bathroom.

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This update is from the National Low Income Housing Coalition (NLIHC). The National Housing Trust Fund could generate more between $800 million to $1 billion in the first year. The following information is from NLICH.

Tuesday, July 31 was a momentous day for the National Housing Trust Fund Campaign. For the first time since the campaign began in 2001, we have successfully moved legislation to establish a National Housing Trust Fund out of committee. H.R. 2895, the National Affordable Housing Trust Fund Act of 2007, was reported out of the House Financial Services Committee on July 31 by vote of 45-23. All Democratic and 8 Republican members of the committee voted in support of the bill.

WHAT H.R. 2895 DOES

H.R. 2895 directs funds from Fannie Mae, Freddie Mac, and the Federal Housing Administration into a National Affordable Housing Trust Fund. Thus, as with the best of state and local housing trust funds, the National Affordable Housing Trust Fund does not depend on annual appropriations. The combined amount estimated to be in the Fund for the first year is $800 million to $1 billion. The bill also allows for “any amounts as are or may be appropriated, transferred, or credited to such Fund under any other provisions of law,” setting the stage for additional sources of revenue to be dedicated to the Fund.

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