Why is the Housing Trust Fund Important for NAMI?
The Housing Trust Fund’s most important features are: • It is a permanent program with a dedicated source of funding not subject to the annual congressional 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 homeownership activities for first-time homebuyers: production, preservation, and rehabilitation; down payment assistance, closing cost assistance, and assistance for interest rate buy-downs. • Most importantly, at least 75% of the funds for rental housing must benefit extremely low income households and all funds must benefit very low income households. • Investment to achieve development of 1.5 million new units of rental housing affordable to very low-income and extremely low-income households. The Housing Trust Fund is the first new federal housing production program since the HOME program was created in 1990 and the first new production prog
