NHTF allocation formula would provide $34.5 million every year!
Will help fund hundreds of new affordable housing units!
As homelessness rises in NJ need for NHTF increases!
Click here to view allocations by state.
Click here to view HUD’s regulations on allocations.
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.
Last week the New Jersey Advocacy Network to End Homelessness is asked our members, friends and allies to call their representative and both of New Jersey’s senators to tell them you want at least $1 billion for the National Housing Trust Fund before Congress adjourns later in December.
We now know how valuable this program will be for NJ! The allocation formula released by Housing and Urban Development (HUD) on Friday December 4, 2009, would result in an annual allocation of $34.5 million dollars!
This is why we have been advocating for the NHTF. We continue to need your help not only secure the funding but also to make sure that the funding sources become permanent and dedicated to the NHTF.
With the rising tide of homelessness, funding for the NHTF is more crucial than ever.
Yesterday the Star-Ledger’s article on Project Homeless Connect – Morris County shelters see growing number of white-collar professionals becoming homeless – highlighted the need for NHTF funding. Attendance was up 75%.
Betsey Hall, president of Homeless Solutions in Morris County, said 54 percent of the people coming into the program are fully employed when they become homeless.
Hall said these homeless people may have fallen into dire financial straits for any number of reasons, such as salary cuts, unexpected illness, or the layoff of a spouse, said Joann Bjornson, executive director of the Interfaith Council for Homeless Families of Morris County. They quickly may find that they can’t pay their mortgage, taxes or household expenses. Click here to read the full article.
We need to thank Senator Menendez who has become a co-sponsor S. 1731, the “Preserving Homes and Communities Act” which will provide $1 billion to capitalize the National Housing Trust.
We need to have Senator Lautenberg sponsor this legislation as well.
Congressman Holt is co-sponsor H.R 3766, the “Main Street TARP Act of 2009″ which would provide funding.
Several other members have expressed support but have not become co-sponsors.
Now is the time for them to take action to address the affordable housing crisis in New Jersey!
Please share this with your friends, allies and associates.
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.
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.
