The National Housing Trust Fund is a source of funding for construction, acquisition and rehabilitation of (mostly) rental units for very-low and extremely low-income households.
Extremely low-income households earn at or below 30% of the area median income (ami), and there are only 37 affordable units for every 100 households at that level. This contributes to family homelessness.
The National Housing Trust Fund was authorized in July 2008, but its funding sources were lost with the burst of the housing bubble.
The NHTF will create an estimated 17,000 jobs for workers across skill levels, and the bill mandates the use of “green” technologies and materials. The authorization identified the Gulf Coast region as the recipient of the first year of projects, meant to compensate for some of the housing lost to major hurricanes in 2005 and 2006.