Powerpoint accompanying workshop session from the Homeless and Housing Coalition of Kentucky's 2013 conference. Rachel Hurst, Louisville AHTF. Critical affordable housing needs are increasing in Kentucky. Representatives from Louisville, Lexington, and Kentucky Housing Corporation discuss how the AFTF program helps in the development of affordable housing in their communities.

1. Louisville Metro
Affordable
Housing Trust
Fund, Inc.
Overview
, needs,
and call
to action

2. Agenda for this presentation
1. LAHTF background, needs, and proposed
solution
2. Questions ( __ minutes), & after
3. What can you do? What commitments will
you make?

3. What is the LAHTF?
• Established by the Louisville
Metro Council in 2008
• Louisville Metro County
Ordinance 40.41- 45 (2008)
• Receives/disburses money
to orgs that can solve the
housing crisis
• Nearly 700 HTF’s in US
Invests public funds in
housing our community
needs:
– for people on fixed incomes
like seniors and people
with serious disabilities;
– for young families starting
out;
– for working people whose
wages are not enough to
live in Metro Louisville.

4. History
• 2004 – CLOUT, MHC, HFH,
others
• “Open the Door” campaign
• 100+ endorsers
• Mayoral Task Force
• 2008 & 2009 – ordinance
• 2010 – board of directors
• 2012 – Needs Assessment
• Now
– $400K to invest in
vacant/abandoned properties
rehab
– need for dedicated public
revenue

5. What is affordable?
• Housing is affordable when you
spend less than 30% of your
monthly income on housing and
utilities combined.
Is there a need in Louisville?

6. 91,999 families = 4 YUM! Centers

7. Source: MHC 2012 State of Metro Housing Report analysis of Jefferson County Public Schools data.

8. National Low Income Housing Coalition (2011) analysis of 2009 American
Community Survey data for Kentucky’s Congressional District 3 reports 91,999
households live in unaffordable housing in Louisville; 106,496 of total
households are renters; 48,227 of those in unaffordable housing are renters.
The number of homeowners in unaffordable housing is calculated as the
difference between 106,496 and 48,227 (48,300).

9. Metropolitan Housing Coalition analysis of 2010 U.S. Census Bureau data as reported in the 2011 report Louisville’s
Foreclosure Recovery: Understanding and Responding to the Impact of Foreclosure Sales.

10. SSI and the cost of housing in Louisville
SSI monthly
income
19% of
income to
utilities
11% of
income
remaining
for housing
Fair
Market
Rent
% of income
SSI-only
household
must spend
to afford FMR
and utilities
1 person $ 674 $ 128 $ 74 $ 506
(efficiency)
86% of
income
2 people $1,011 $ 192 $ 111 $ 585 (1 BR)
to
$ 694 (2 BR)
68.8%
to
79.6%
of income

11. Who benefits when
housing is affordable?
 Businesses
 Schoolchildren
 Hardworking
families
 Businesses and
nonprofits that
create high-quality
affordable housing
 Neighborhoods

12. Economic Impact of $1m investment
in affordable housing in Louisville
Year 1:
$6.5m + 112 local jobs
supported:
• $5.8m local income
generated for residents
(in business owner
income, wages, salaries)
• $596K local tax revenue
generated
Year 2 & beyond:
(annual ongoing effect
when the homes are
occupied)
$3m + 44 local jobs
supported:
• $2.67m local income
generated
• $387K local tax revenue
generated

13. Community problems
associated with affordable
housing crisis
•Academic performance
•School absenteeism
•Preventable mental and physical
health problems
•Family dynamics
•Foreclosure
•Vacant and abandoned properties
•Increased crime
•Loss of affordable insurance
•Devalued home values

14. Louisville AHTF solutions to the
affordable housing crisis
1. Revolving loan fund for rehab of
vacant and abandoned properties
for affordable housing re-use
2. Establish dedicated ongoing public
revenue source

15. Solution:
Enact 1% increase in
insurance premium
tax for LAHTF
• LAHTF still lacks the key component
that defines all HTF’s – a source of
dedicated ongoing public revenue
• The city of Louisville may take action
now to help hardworking families
– by enacting a 1% insurance premium
tax increase
– by March 14, 2013
– as the source of ongoing dedicated
public revenue for the LAHTF.
• 63¢ a month raises $9.7 million annually
for homes for struggling families
• $10 million annually needed (Metro
Council, Task Forces, advocates, and
LMCO 40.43)

17. What
will
YOU do?
Ways to help build community
momentum:
To get $10m annually for
affordable housing,
we need __ more votes:
• 2/28 rally
• Fill the chambers 2/14, 2/28,
3/14
• Contact your Metro Council
member & voice support: 574-
1100
• Collect postcards
• Letters to the Editor, media
outreach

18. • 1469 S 4th
St, Suite 300, Louisville KY 40208
• Rachel M. Hurst, Executive Director
• 502-637-5372 office/270-869-5613 cell
• rachelmhurst@gmail.com
• www.louisvilleahtf.org
• Facebook: louisvillehousingtrust
Louisville Metro
Affordable
Housing Trust Fund, Inc.