The National Low Income Housing Coalition (NLIHC) applauds the release of Fiscal Year (FY) 2017 allocations of state-by-state funding levels for the national Housing Trust Fund (HTF) from the Department of Housing and Urban Development (HUD). The funding, approved on Wednesday, June 14, is an important step towards alleviating the severe shortage of homes affordable to the lowest income people across the country.
The HTF is exclusively targeted to help build, preserve, and rehabilitate housing for people with the lowest incomes. In 2016, the first $174 million in HTF funding were allocated to states. This year, HUD will allocate over $219 million to states for producing, preserving, and rehabilitating rental housing for extremely low income (ELI) households, those with incomes at or below 30% of area median income, or less than the federal poverty guideline.
The 2017 HTF allocations, along with allocations for other CPD formula programs are at http://bit.ly/2rs5MkB
The national Housing Trust Fund is funded through a 0.042% assessment on the new business of Fannie Mae and Freddie Mac.
NLIHC’s statement on the release of the 2017 HTF allocations is at: http://nlihc.org/press/releases/7950