National Housing Trust Fund Session: Using the New Housing Trust Fund 9/12/2016 National Housing Trust Fund Brittney Daise (Georgia) Shelli Glines (Utah) Laura Whittall-Scherfee (California)

National Housing Trust Fund (NHTF) Need for Affordable ELI Rental Housing National shortage of 7.1 million homes affordable and available to extremely low income (ELI) renter households. ELI means income at or below 30% of area medium income (AMI) There are only 31 rental homes affordable and available for every 100 ELI renter households. 75% of ELI renter households spent more than 50% of their income for rent and utilities. 2

National Housing Trust Fund (NHTF) Focus on Renters Law Creating NHTF requires at least 90% of the state’s NHTF money be used to produce, preserve, rehabilitate, or operate rental housing. Up to 10% may be for homeowner activities. Law also requires at least 75% of a state’s NHTF used for rental housing benefit extremely low income (ELI) households, or households with income below poverty level (whichever is greater, according to regulations) Extremely low income (ELI) is less than 30% of area median income, AMI. 3

Housing – Getting started with the National Housing Trust Fund (NHTF) Provides block grants to states to be used primarily to build, preserve, rehabilitate, and operate rental housing Affordable to extremely low income household, which includes seniors, and disabled persons. NHTF funds will be paired with another HCD programs in joint NOFA 4

Housing – Getting started with the National Housing Trust Fund (NHTF) Minimum of $3 million per state, if not enough an alternate rule will be developed. Amend Annual Action Plan and Consolidated Plan to receive NHTF funds. It can be used for: Rental Operations cost 5

Housing – Getting started with the National Housing Trust Fund (NHTF) Discussion HTF will have its own Income Limits 30 Years of affordability period given NHTF will give preference to units that serve Homeless or other Special Needs populations 6