The Department of Housing and Urban Development announced it has allocated nearly $174 million through the National Housing Trust Fund (HTF).
California received the largest share ($10.1 million) followed by New York ($7 million) and Texas ($4.8 million). By law, each state receives a minimum of $3 million, and that's about what most states received.
These are the first allocations made under the long-awaited fund, a new affordable housing production program that will complement existing federal, state, and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low-income and very low-income households, including homeless families.
Grantees are required to use at least 80% of each annual grant for rental housing; up to 10% for homeownership housing; and up to 10% for the grantee's reasonable administrative and planning costs. Funds may be used for the production or preservation of affordable housing through the acquisition, new construction, reconstruction, and/or rehabilitation of non-luxury housing with suitable amenities. All HTF-assisted rental housing must meet a 30-year affordability period. All HTF-assisted homeownership housing must meet the minimum affordability period of 10, 20 or 30 years based on the amount of HTF investment in the unit.
“Today, we offer another tool to help states confront a growing affordable rental housing crisis in this country,” said HUD Secretary Julián Castro. “The Housing Trust Fund will be an enduring resource designed to producing more housing that is affordable to our most vulnerable neighbors.”
Eight years after it was authorized by the Housing and Economic Recovery Act of 2008 (HERA), the Housing Trust Fund is only now being capitalized through contributions made by Fannie Mae and Freddie Mac. In December 2014, the Federal Housing Finance Agency directed the government-sponsored enterprises to begin setting aside and allocating funds to the fund.
Here are the allocation amounts:
|
Alabama | $ 3,000,000 |
|
Alaska | $ 3,000,000 |
|
Arizona | $ 3,000,000 |
|
Arkansas | $ 3,000,000 |
|
California | $ 10,128,143 |
|
Colorado | $ 3,000,000 |
|
Connecticut | $ 3,000,000 |
|
Delaware | $ 3,000,000 |
|
District of Columbia | $ 3,000,000 |
|
Florida | $ 4,598,821 |
|
Georgia | $ 3,314,612 |
|
Hawaii | $ 3,000,000 |
|
Idaho | $ 3,000,000 |
|
Illinois | $ 4,302,012 |
|
Indiana | $ 3,000,000 |
|
Iowa | $ 3,000,000 |
|
Kansas | $ 3,000,000 |
|
Kentucky | $ 3,000,000 |
|
Louisiana | $ 3,000,000 |
|
Maine | $ 3,000,000 |
|
Maryland | $ 3,000,000 |
|
Massachusetts | $ 3,419,569 |
|
Michigan | $ 3,522,622 |
|
Minnesota | $ 3,000,000 |
|
Mississippi | $ 3,000,000 |
|
Missouri | $ 3,000,000 |
|
Montana | $ 3,000,000 |
|
Nebraska | $ 3,000,000 |
|
Nevada | $ 3,000,000 |
|
New Hampshire | $ 3,000,000 |
|
New Jersey | $ 3,733,566 |
|
New Mexico | $ 3,000,000 |
|
New York | $ 7,013,963 |
|
North Carolina | $ 3,280,235 |
|
North Dakota | $ 3,000,000 |
|
Ohio | $ 3,740,578 |
|
Oklahoma | $ 3,000,000 |
|
Oregon | $ 3,000,000 |
|
Pennsylvania | $ 3,862,285 |
|
Rhode Island | $ 3,000,000 |
|
South Carolina | $ 3,000,000 |
|
South Dakota | $ 3,000,000 |
|
Tennessee | $ 3,000,000 |
|
Texas | $ 4,778,364 |
|
Utah | $ 3,000,000 |
|
Vermont | $ 3,000,000 |
|
Virginia | $ 3,139,830 |
|
Washington | $ 3,243,721 |
|
West Virginia | $ 3,000,000 |
|
Wisconsin | $ 3,004,558 |
|
Wyoming | $ 3,000,000 |
|
American Samoa | $ 12,321 |
|
Guam | $ 77,609 |
|
N. Mariana Islands | $ 35,735 |
|
Puerto Rico | $ 326,054 |
|
Virgin Islands | $ 56,562 |
| TOTAL | $ 173,591,160 |