Albuquerque Workforce Housing Trust Fund

Created in 2006, through the passage of the City of Albuquerque's Workforce Housing Opportunity Act, the Workforce Housing Trust Funds are a permanently dedicated source of revenue used to support the preservation and production of affordable housing. These funds can be leveraged with additional resources, including HOME and Community Development Block Grant, and have a long-term affordability requirement. The Workforce Housing Trust Fund has been administered by the City’s Department of Family and Community Services (DFCS) since 2007. Since 2007, more than $45 Million in WHTF and more than $27 Million of Federal funding has been committed to increase the supply of Affordable Housing opportunities in the City of Albuquerque. The result is 33 Affordable Housing Development activities and/or Land Banking activities for future development, to rehabilitate and/or construct quality affordable housing units. Currently, the City-funded Affordable Housing Developments have funded a total of 1,660 total housing units. Of these units, 1,454 units are designated as “Affordable” for households with incomes at or below 80% of the City’s Median Family Income (MFI), with the majority of units being affordable to some of the City’s most vulnerable households, City residents with incomes at or below 50% of the City’s (MFI).