National Housing Trust Fund March 17, 2015 Rebekah King Policy Associate National Housing Conference (202) 466-2121 x248.

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Presentation transcript:

National Housing Trust Fund March 17, 2015 Rebekah King Policy Associate National Housing Conference (202) x248

Overview of presentation Introduction of NHC Rental Housing Context Need for ELI housing NHTF compared to HOME Process 2

Who Is NHC? 3 Since 1931, the National Housing Conference (NHC) has been dedicated to helping ensure safe, decent and affordable housing for all in America. NHC actively engages and convenes its membership in nonpartisan advocacy for effective housing policy solutions at the local, state and national levels. Our Center for Housing Policy provides policy-relevant research, and we offer communications tools for using values- based messaging. NHC draws its membership from every housing industry segment: developers, advocates, investors, managers, lenders, nonprofits, realtors, state and local housing agencies, associations, and more.

Rental Housing Context During the recent recession, household incomes and multifamily housing construction declined. Millions of households shifted from homeownership to renters. Rental vacancy rates have fallen. Rents are increasing at twice the rate of inflation. Household incomes are not keeping up with rental costs. 4

Need for ELI housing 5

NHTF compared to HOME 6 TopicNHTFHOME Income30% AMI50-80% AMI Eligible activitiesRental and homebuyer production, operating costs Rental and homebuyer production, homeowner rehab Public housingRAD conversion, Choice Neighborhoods, LIHTC HOPE VI if no PHA capital funds Affordability period30 years for most projectsVaries from 5-20 years MonitoringOnce every 3 yearsVaries based on project size, every 1-3 years

HOME and NHTF: NOT interchangeable HOME and NHTF designed to serve different income groups and different purposes NHTF is a positive step because an additional funding source NHTF and HOME can work well in parallel 7

Process 2015: States develop HTF Allocation Plans 2016: Submit these plans to HUD. HUD anticipates that grantees will receive their HTF allocations by summer

National Housing Trust Fund March 17, 2015 Rebekah King Policy Associate National Housing Conference (202) x248