Trust Fund Financing
The AHTF recently received initial funding in the fall of 2011. The next steps involve further delineation of policies and procedures, and the development of Request for Proposal soliciting potential projects. Ultimately, the AHTF will support affordable housing development through predevelopment funding, loans, and grants for project planning, acquisition, construction, energy conservation measures, rehabilitation, and emergency repairs. The AHTF is not intended to be a primary financing mechanism of affordable housing. Its goal is to provide value for the money by leveraging private, governmental, and charitable sources at a ratio of ten to one, and to produce measurable outcomes in terms of units produced, resources leveraged, increase in local tax revenues, and job creation. A majority of the AHTF support will come in the form of a loan, thereby recapturing funds for circular and sustainable investment in affordable housing and leveraging of additional outside resources.
More Information
For more information on GTCLBA and the AHTF, please see our presentation to the
2011 Land Bank Conference in Detroit, Michigan (PDF).
For more information on Housing Trust Funds, generally speaking, please see the
Center for Community Change's Housing Trust Fund Project website.