With the growth of Housing Trust Funds across the country it only underscores the importance of the County-based Homeless Trust Fund campaign in NJ. To view the full list of supporters for the Homeless Trust Fund click here.
Nearly 600 housing trust funds in cities, counties, and states generate more than $1.6 billion a year to support affordable housing, according to a report by the Center for Community Change. Housing trust funds are typically set up by local government bodies and dedicate public resources to a distinct fund for providing affordable housing. The most common revenue source for housing trust funds, according to the report, is a real estate transfer tax or a document recording fee. State housing trust funds exist in thirty- eight states. Thirty-five state housing trust funds serve specific populations; eligibility requirements vary, but include the homeless population and other low- income households (30 percent to 140 percent of AMI). The report includes a number of case studies and a list of websites for housing trust funds by jurisdiction.
To read the full report on Housing Trust funds click here.