What types of housing should the Trust Fund be used for?
The Trust Fund should be used for the production of new housing, preservation of existing federally assisted housing, and rehabilitation of existing private market affordable housing. The Trust Fund should be primarily used for rental housing. We support allowing up to 25% of funds to be used for homeownership activities, so long as low income people are served. Cooperatives are eligible uses in all cases as long as income targeting requirements are met. • Who should receive the housing created by the Trust Fund? At least 45% of the Trust Fund dollars should be used for housing that is affordable for extremely low income households, that is, those with incomes under 30% of the higher of state or area median. In addition, 30% of total Trust Fund dollars should be used for housing that is affordable to households with income at the equivalent of full time prevailing minimum wage earnings or less. The remaining 25% of Trust Fund dollars can be used for low income households with incomes u
