Both Sign ‘Dear Colleague’ Letter to include
NHTF funding in jobs bill!
Nationally 25 Senators Support NHTF
Resources
NHTF allocation formula would provide
$34.5 million along with project based vouchers for NJ!NHTF will create 521 construction jobs and 131 permanent jobs!
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.
Click here to read our action alert on the $1 billion dollars in funding.
Alison Recca-Ryan, incoming President of the Advocacy Network, Senator Robert Menendez, Richard W. Brown, Senator Frank Lautenberg and Joyce Campbell, Vice-President of the Advocacy Network at the 2007 Congressional Reception
Last week thanks to the concerted efforts of our members, allies and partners, we reported that Senator Frank Lautenberg signed the letter to include funds for the National Housing Trust Fund (NHTF) in the jobs bill that the Senate is likely to consider in coming weeks. We are pleased to announce that Senator Robert Menendez also signed the letter but after we had published last Friday’s post.
The letter was drafted by Senator Jack Reed (D-RI), along with Senators Chris Dodd (D-CT) and Bernie Sanders (I-VT), is asked fellow Senators to sign the letter to Majority Leader Harry Reid (D-NV) and Senators Richard Durbin (D-IL) and Byron Dorgan (D-ND). Click here for a copy of the letter with all of the twenty-five Senators who support funding for the NHTF.
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.
