Critical Funding for National Housing Trust Fund May Be at Risk

Contact NJ’s Congressional Delegation & Sign On To  A Letter Urging Congress to Protect and Expand HTF

Last week, the Trump administration signaled that funding for the Housing Trust Fund (HTF) could be suspended.  This suspension would undermine our nation’s ability to address homelessness and housing poverty.

The National Low Income Housing Coalition (NLIHC) encourages all advocates to contact your senators and representative. NLIHC also urges you to sign a letter to Congress telling them to protect and expand the Housing Trust Fund (HTF). The HTF is the first new federal housing resource in a generation exclusively targeted to address the underlying cause of the affordable housing crisis: the severe shortage of affordable rental homes available to people with the lowest incomes.

Call your senators and representative today and tell them to protect current and expand funding for the HTF.   

Join nearly 2,000 organizations, including Monarch Housing Associates,  and local government officials by signing onto a national letter urging Congress to protect and expand the HTF. Organizations and local governments can sign onto the letter here.Under the Obama administration, Federal Housing Finance Agency (FHFA) Director Mel Watt took important steps to ensure funding for the HTF.

One month after Director Watt’s term ended in January, FHFA Acting Director Joseph Otting — appointed by President Trump — stated that FHFA “is reviewing its options,” related to contributions to the Housing Trust Fund and Capital Magnet Fund. President Trump’s nominee for FHFA director, Mark Calabria, goes before the Senate Banking Committee on Thursday, February 14 for a confirmation hearing.

If FHFA suspends funding for the HTF, the long-term viability of the program would be put at risk, making it harder for the lowest income seniors, people with disabilities, families with children, people experiencing homelessness and other individuals to have affordable homes.

In 2016, the FHFA allocated the first $174 million in HTF dollars to states. NLIHC’s September 2018 interim report summarizes key features of the 1,500 rental homes being created by 42 states with their inaugural Housing Trust Fund dollars.  In New Jersey 6 HTF funded projects have created 20 new rental homes.