Federal housing officials will award just over $219 million from the National Housing Trust Fund.
California will receive the largest 2017 allocation with $23 million, followed by New York with $14.8 million, according to the amounts published in the Federal Register on June 23.
The Housing Trust Fund is the first new resource in a generation exclusively targeted to build, preserve, and rehabilitate housing for people with the lowest incomes. Funded through a small assessment on Fannie Mae and Freddie Mac’s annual book of business, it is administered as a block grant, giving each state the flexibility to decide how best to use trust fund resources to address its most pressing housing needs, said the National Low Income Housing Coalition, which led the campaign to create the housing trust fund. In 2016, the first allocation of $174 million was funded.
