The bill does not provide vouchers to restore the remaining 67,000 vouchers lost due to the 2013 sequester cuts.
Changes in the MID, phased-in over five years, would raise $230B in revenue over ten years which should be directed to the NHTF.
HUD on April 8th posted a chart reflecting some of the changes between the proposed National Housing Trust Fund regulations and the interim rule.
The NJ Department of Community Affairs will be the designated entity chosen to be the National Housing Trust Fund (NHTF) grantee.
With funding for the NHTF, we have the opportunity to begin closing the enormous gap between the need supply of housing among ELI households.
With the new resources generated by Mr. Ellison’s bill, we can end homelessness by ensuring that they have a decent, stable, and affordable home.
Within 30 days, states are required to inform HUD if it intends to be a NHTF grantee, and the name of and contact at the agency. NJ has not done this.
If $250 million is available, New Jersey will receive $6,522,612 and if $500 million is available, New Jersey will receive $15,717,227.
Mr. Watt wrote the CEOs of Fannie Mae and Freddie Mac informing them he was terminating the suspension of that they set aside funds for the NHTF.
Over one third (almost 37%) of all tax returns that claim the MID are from zip codes in the top adjusted gross incomes.