National Housing Trust Fund

Use August Recess to Remind Elected Officials of Need to Fund NHTF

The House and Senate, on August 12 and 13 respectively, returned to Washington for a day’s worth of business since initially adjourning for their traditional August recess. They passed legislation to provide aid to states, including for teachers’ salaries and Medicaid assistance.

Senate staff report that the Senate intends to take up what remains of the original “extenders bill,” including funding for the National Housing Trust Fund (NHTF), when the Senate returns after Labor Day.

Advocates should use the time that Senators are in their home states to remind them of the need to fund the NHTF.

Materials advocates can use to make the case can be found at www.nhtf.org and http://www.nlihc.org/template/page.cfm?id=228

Tell Senators: Fund National Housing Trust Fund NOW

The U.S. Senate, which so far has been unable to approve $1.065 billion in initial funding for the National Housing Trust Fund, has another opportunity to do so in the coming days.  Advocates should urge their Senators to take action on the National Housing Trust Fund before they adjourn for the August recess.
 
The Senate could approve $1.065 billion by passing the "extenders" package this week, either on its own, or as an amendment to H.R. 5297, the Small Business Jobs and Credit Act of 2010 or another appropriate bill.
 
The "extenders" are the provisions that were part of H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010, that were stripped out last week in order to pass separately the Unemployment Insurance provisions of H.R. 4213.
 
These "extenders" are simply extensions of a variety of business-related tax credits that must be renewed each year. They are non-controversial. The cost of these renewals would be offset by closing several tax loopholes. These offsets would also provide $1.065 billion for the National Housing Trust Fund and associated vouchers. Also included in the "extenders package" are the extension of the Low Income Housing Tax Credit (LIHTC) 9% exchange program and two important LIHTC Gulf Coast provisions.
 
The Senate Leadership needs to get these provisions to the floor. Adding them as an amendment to H.R. 5297 is one option.
 
Call your Senators toll-free at 877-210-5351. Remind them of the effects of the recession and housing crisis in your community, and tell them you want the funding for the National Housing Trust Fund to be approved now. Tell them you want the "extenders" bill with the $1.065 billion for the National Housing Trust Fund and Low Income Housing Tax Credit provisions passed this week.
  
Please call this week even if you have called before. Your Senators need to hear from you!

Read a Summary of H.R. 4213 The American Jobs and Closing Tax Loopholes Act

Click here or paste the link below in your browser.

http://www.nlihc.org/doc/Summary-Extender-Bill.pdf

The National Housing Trust Fund Campaign has sent a letter to every Member of Congress calling for the immediate funding of the National Housing Trust Fund. The letter has been signed by organizations in each of the 435 Congressional districts, plus the District of Columbia and Puerto Rico. More than 2,225 national, state, and local organizations have signed the letter.

Click here to read the letter and the complete list of signers.

The letter reads:

We, the undersigned organizations, urge Congress to act soon to provide the initial funding for the National Housing Trust Fund (NHTF). We are requesting $1.065 billion be provided immediately to the NHTF: $1 billion to capitalize the NHTF and $65 million for project-based vouchers to couple with NHTF capital grants.

The NHTF was created in the Housing and Economic Recovery Act of 2008 (HERA) to address the severe shortage of rental homes that are affordable for the lowest income families, but it has not yet been funded. The President proposed funding for the NHTF in his FY10 and FY11 budget requests. 

In the United States today, there are only 37 rental homes available and affordable for every 100 households with incomes below 30% of their area median.  A scarcity of housing that the poorest families can afford is the principal cause of homelessness in the United States.

Investment in the NHTF will create good jobs. Every $1 billion provided to the Trust Fund will support the immediate construction of 10,000 rental homes, creating 15,100 new construction jobs and 3,800 new jobs in ongoing operations.

We urge Congress to provide this badly needed funding at the soonest possible opportunity.

Thank you to all the organizations that have signed the letter to date, especially national and state member of the NHTF Campaign who reached out their networks.

The NHTF Campaign will continue to collect organizational sign-ons. Sign on at: www.nlihc.org/sign.

NHTF State Allocation Estimates

HUD Updates its NHTF Estimated State Allocation Numbers. To see the updated allocation estimates click here

Listen to a recording of Sheila Crowley’s January 19, 2010, national conference call to discuss the current state of play on the National Housing Trust Fund. Click here to listen to the call. Note: Play this audio recording from the 1:20 mark for best quality.

Read NLIHC's Preliminary Estimates of State Allocation Amounts from NHTF
for Every Billion Allocated and Invested - click here

Read HUD's reg impact analysis on NHTF. Also includes state allocation
estimates and reasoning behind allocation proposed rule - click here

Read the NHTF FAQ - click here   

NHTF Background

After years of hard work, challenges, and setbacks, advocates across the country celebrated the creation of a National Housing Trust Fund in July of 2008.

The National Housing Trust Fund was established as a provision of the Housing and Economic Recovery Act of 2008, which was signed into law by President George W. Bush. The passage of National Housing Trust Fund legislation is a major victory for low income housing advocates and the lowest income people in our country with the most serious needs.

The housing trust fund will, once capitalized, provide communities with funds to build, preserve, and rehabilitate rental homes that are affordable for extremely and very low income households. The Housing Trust Fund’s most important features are:

  • It is a permanent program, and will have dedicated source of funding not subject to the annual 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.
  • At least 75% of the funds for rental housing must benefit extremely low income households and all funds must benefit very low income households.

Support the National Housing Trust Fund

The National Housing Trust Fund was signed into law because of the incredible and ongoing support of the more than 5,750 national, state, and local endorsers of the National Housing Trust Fund Campaign. Add your organization’s name to the endorser list by clicking here

Learn More About National Housing Trust Fund

  • Listen to a recording of Sheila Crowley’s January 19, 2010, national conference call to discuss the current state of play on the National Housing Trust Fund. Click here to listen to the call. Note: Play this audio recording from the 1:20 mark for best quality.

  • Read a letter from NLIHC President Sheila Crowley to Speaker of the House Nancy Pelosi click here and Congressman Reid click here urging them to make sure that at least $1 billion is provided for the National Housing Trust Fund (NHTF) before the year is out.

  • Listen to a recording of Sheila Crowley’s August 22, 2008, national call describing the new National Housing Trust Fund click here to listen to the call. For more information click here.

BIG PUSH FOR NHTF SIGN-ON: Closing in on 2,000 organizations and 100% of Congressional districts 

 

More Info
 

 

More than 1,800 organizations in 413 Congressional districts have joined the national sign-on letter urging Congress to support our communities by providing $1 billion for the National Housing Trust Fund. This is an incredible show of support, and we thank you for your work to help make the National Housing Trust Fund a reality.

 

We want to send the letter to Congress THIS WEEK. That means we have just a few more hours to add organizations in order to reach our initial goals of 2,000 organizations in all 435 districts.  (We'll continue to keep the letter open for signatures after this week, but we want to do everything we can to pass these milestones before the first version of the letter is made public.)

 

Can you help today and tomorrow? If your organization has not joined the letter, click here to sign. Then please forward this email to urge every organization in your network or coalition to sign on as well. Signatories can be local, state, and national organizations, including nonprofits, congregations, labor unions, corporations, and government agencies.

 

Here is the letter in support of the National Housing Trust Fund:

 

***

We, the undersigned organizations, urge Congress to act soon to provide the initial funding for the National Housing Trust Fund (NHTF). We are requesting $1.065 billion be provided immediately to the NHTF: $1 billion to capitalize the NHTF and $65 million for project-based vouchers to couple with NHTF capital grants. 

 

The NHTF was created in the Housing and Economic Recovery Act of 2008 (HERA) to address the severe shortage of rental homes that are affordable for the lowest income families, but it has not yet been funded. The President proposed funding for the NHTF in his FY10 and FY11 budget requests. 

 

In the United States today, there are only 37 rental homes available and affordable for every 100 households with incomes below 30% of their area median.  A scarcity of housing that the poorest families can afford is the principal cause of homelessness in the United States. 

 

Investment in the NHTF will create good jobs. Every $1 billion provided to the Trust Fund will support the immediate construction of 10,000 rental homes, creating 15,100 new construction jobs and 3,800 new jobs in ongoing operations. 

 

We urge Congress to provide this badly needed funding at the soonest possible opportunity. 

 

***

 

THANK YOU FOR SIGNING THE NHTF SUPPORT LETTER TODAY!

 

Need to learn more about the National Housing Trust Fund before signing on? Click here for background information.

 

 
Press on the National Housing Trust Fund:

The National Housing Trust Fund has received editorial support from media outlets and columnists around the country. Find a list of articles about and endorsements of the National Housing Trust Fund here.  Recent articles include:

10/7/09  : New York Times Editorial - A Good Return on Investment  

07/31/09 : KPFK Pacifica Radio - Uprising with Sonalie Kolhatkar: Listen to the radio broadcast on the National Housing Trust Fund

02/07/09 : New York Times Editorial - A Stimulus For the Poor

07/31/08 : David Broder: When Congress Works, Editorial