Wednesday, January 27, 2010

Housing Trust Funds

Affordable housing activists might find the concept of a housing trust fund interesting. A county sponsored housing trust fund provides county monies for the following:

1. Construction of new affordable housing
2. Rehabilitation of existing housing
3. Land acquisition for new construction
4. Accessibility modifications (for people with disabilities)
5. Housing related supportive services (i.e. housing counseling, case management, etc.)

The county would have an oversight committee to administer the fund and grant monies based on a competitive application process. Possible funding sources include the following:
1. A small increase in the real estate transfer tax
2. A county sales tax of .1 percent
3. Two cents per $1,000 of property taxes
4. Employer tax deductible contributions

When most people think of affordable housing they instantly conjure up images of huge projects. Nowadays, this isn't the case. These places are all affordable housing complexes:

The Silvernail, Waukesha, WI

Deer Creek Village, New Berlin, WI

Breezewood Village, Hartland, WI

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