Housing Trust FundsFinancing Permanent Supportive Housing<br />Andrew Baldwin<br />Associate Director, Project Development...
Defining Housing Trust Funds<br />Housing Trust Fund – <br />funding source capitalized through ongoing dedicated sources ...
Defining Housing Trust Funds<br />Administered by gov’t entities (state HFAs or city/state depts) or quasi-public entities...
Advantages<br /><ul><li>Flexible
Dedicated funding streams – ideally, with annual transfers (at minimum)
Promote local funding priorities – ideally targeting those with greatest need</li></li></ul><li>How HTFs are Funded<br />H...
HTFs’ Role in Financing PSH<br />HTFs have played important roles in many communities in funding permanent supportive hous...
IL Affordable Housing Trust Fund<br />Created by IL legislature in 1989<br />Funded through half of the state real estate ...
LA Housing Trust Fund<br />Created in 2000 by Mayor and City Council of City of Los Angeles<br />Initial capitalized with ...
NJ Special Needs Housing Trust Fund<br />Established in 2005; administered by NJ Housing and Mortgage Finance Agency<br />...
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6.12 Andrew Baldwin

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6.12 Andrew Baldwin

  1. 1. Housing Trust FundsFinancing Permanent Supportive Housing<br />Andrew Baldwin<br />Associate Director, Project Development & Finance<br />Corporation for Supportive Housing<br />July 15, 2011<br />
  2. 2. Defining Housing Trust Funds<br />Housing Trust Fund – <br />funding source capitalized through ongoing dedicated sources of public funding to support the preservation and production of affordable housing.<br />Exist at the city, county, and state levels.<br />Established by elected gov’t bodies.<br />
  3. 3. Defining Housing Trust Funds<br />Administered by gov’t entities (state HFAs or city/state depts) or quasi-public entities.<br />Distributed through RFPs/NOFAs or programs. <br />
  4. 4. Advantages<br /><ul><li>Flexible
  5. 5. Dedicated funding streams – ideally, with annual transfers (at minimum)
  6. 6. Promote local funding priorities – ideally targeting those with greatest need</li></li></ul><li>How HTFs are Funded<br />HTFs are funded in a variety of ways, typically related to real estate:<br />Real estate transfer tax<br />Document recording fee<br />Interest on real estate escrow accounts<br />GO Bonds<br />General Revenue<br />Sometimes HTFs receive initial capitalization<br />
  7. 7. HTFs’ Role in Financing PSH<br />HTFs have played important roles in many communities in funding permanent supportive housing.<br />Three examples (capital):<br />IL Affordable Housing Trust Fund<br />LA Housing Trust Fund<br />NJ Special Needs Housing Trust Fund<br />
  8. 8. IL Affordable Housing Trust Fund<br />Created by IL legislature in 1989<br />Funded through half of the state real estate transfer fee<br />Yields approximately $20-22 million each year<br />Funds acquisition/rehab, new construction, adaptive reuse, special needs housing, TA for nonprofits<br />
  9. 9. LA Housing Trust Fund<br />Created in 2000 by Mayor and City Council of City of Los Angeles<br />Initial capitalized with $5 million seed money<br />Provides long-term loans for construction/rehab of affordable housing<br />Funded from various sources including HOME, RDA, and general funds<br />
  10. 10. NJ Special Needs Housing Trust Fund<br />Established in 2005; administered by NJ Housing and Mortgage Finance Agency<br />$200 million initial funding, funded by bonds backed by traffic fines<br />Finances construction of permanent supportive housing<br />Provides up to 80% of capital financing in projects<br />
  11. 11. To learn more about supportive housing<br />visitwww.csh.org<br />

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