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Help Support the Housing Trust Fund

By Larry James
June 17, 2008

We understand that the The Federal Housing Finance Regulatory Reform Act of 2008 (there is no bill number yet) passed by the Senate Banking Committee on May 20 could come to the Senate floor as early as today! This bill includes a Housing Trust Fund that would produce and preserve housing for extremely low and very low income households.

Please call your senators today, urging them to support the national Housing Trust Fund championed by Senators Christopher Dodd and Jack Reed in the Senate Banking Committee. The formation of a National Housing Trust Fund will provide a real lift to those of us concerned about the development of fit and affordable housing for all Americans.

Please use this toll free number, 1-877-210-5351, for the congressional switchboard and ask to be connected to the housing staffers in your senators' office.

You can also click on the blue "Take Action" link below or in the title line of this post to enter your zip code and find the names and numbers of your senators.
Go here, for background information on the current situation surrounding the bill and for general information on the National Housing Trust Fund Campaign.

Take Action!

Here in Dallas, Texas, we have been working with a group of affordable and permanent supportive housing developers to see that our city creates its own local Housing Trust Fund. Mayor Tom Leppert is very supportive of the move and we hope to have a viable plan to report out to voters in the days ahead.

The formation of a national Housing Trust Fund will provide a real lift to those of us concerned about the development of fit and affordable housing for all Americans.

I hope you'll get involved today!

This housing trust fund, drafted by Senator Jack Reed (D-RI), would be a stand-alone fund that, in addition to the Fannie Mae and Freddie Mac resources identified in the bill, could also accept other sources of revenue. This provision will allow the housing trust fund to continue to grow over time so that more housing affordable to extremely and very low income people can be produced and preserved.

The bill would target at least 75% of the funds to be used for rental housing to people with income below 30% of area median. All of the funds would have to benefit people with incomes below 50% of area median. Furthermore, the bill places a cap on using housing trust fund resources for homeownership at 10%. This will help ensure that the housing trust fund focuses on the very lowest income households, which have the greatest housing affordability problems. (from this website)


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