This is the first new housing production/rehabilitation
program for very low income people since 1974!
Click here to read Frequently Asked Questions.
For a chart detailing both bills click here.
Click here to read our action alert on the $1 billion dollars in funding.
Yesterday we asked for your help to secure funding for the National Housing Trust Fund. Today, we are taking a step back to provide more information on the National Housing Trust Fund and why this is important to New Jersey.
The National Housing Trust Fund was established as a provision of the Housing and Economic Recovery Act of 2008, which was signed into law by President George W. Bush. The passage of National Housing Trust Fund legislation is a major victory for low income housing advocates and the lowest income people in our country with the most serious needs.
The housing trust fund will, once capitalized, provide communities with funds to build, preserve, and rehabilitate rental homes that are affordable for extremely and very low income households. The Housing Trust Fund’s most important features are:
- It is a permanent program, and will have dedicated source of funding not subject to the annual appropriations process.
- At least 90% of the funds must be used for the production, preservation, rehabilitation, or operation of rental housing. Up to 10% can be used for the following home ownership activities for first-time home buyers: production, preservation, and rehabilitation; down payment assistance, closing cost assistance, and assistance for interest rate buy-downs.
- At least 75% of the funds for rental housing must benefit extremely low income households and all funds must benefit very low income households.
This is why we are asking our members, friends, and allies to call Senator Menendez, Senator Lautenberg and your member of Congress as soon as possible, urging them to cosponsor bills providing $1 billion for the National Housing Trust Fund (NHTF).
Ask your representative in the House to cosponsor H. R. 3766, the “Main Street TARP Act”, introduced by Rep. Barney Frank (D-MA).
As of Friday the cosponsors, October 9: Dennis Cardoza (CA), Elijah Cummings (MD), Chaka Fattah (PA), Paul Kanjorski (PA), Nydia Velazquez (NY), and Maxine Waters (CA). Please note that none are from New Jersey!
In addition ask Senators Menendez and Lautenberg to cosponsor S. 1731, the “Preserving Homes and Communities Act”, introduced by Sen. Jack Reed (D-RI).
As of Friday cosponsors, October 9: Richard Durbin (IL), Al Franken (MN), Jeff Merkley (OR), and Sheldon Whitehouse (RI). Please note that none are from New Jersey!
The toll free number for the congressional switchboard is 877-210-5351. Ask to be connected to the housing staffer for your representative’s and senators’ offices.
You can also click here to Take Action. Enter your zip code and find their phone numbers.
If you have questions click here [Email address: rbrown #AT# njaneh.org - replace #AT# with @ ] to contact the Advocacy Network.
For additional information contact our national partner the National Low Income Housing Coalition’s Outreach Team at (202) 662-1530 or click here [Email address: outreach #AT# nlihc.org - replace #AT# with @ ] to send an email.
