Housing Trust Fund
The national Housing Trust Fund (“HTF”) was established by Congress under Title I of the Housing and Economic Recovery Act of 2008. HTF is a formula grant program to be administered by the states. For 2016, HUD allocated to the State of Alabama a grant of $3 million. AHFA’s proposal, designed pursuant to HUD guidance, targets Extremely Low Income populations (“ELI”), with a preference to homeless and at-risk of becoming homeless veterans of the U.S. armed forces. Data as of 2013 reflects that of the 414,963 veterans in the state, 7 percent (or 29,047) have incomes at or below ELI, 43 percent of the ELI Veteran Households (or 12,490) continually struggle with housing costs and are at risk of becoming homeless, and 373 veterans are documented to be homeless.
AHFA will propose a National HTF Allocation Plan (“the Plan”) using a competitive application cycle and point scoring system similar to, but more concise than, the Low-Income Housing Tax Credit program. The Plan is designed to provide funds to develop new construction of decent, safe and sanitary rental housing, with an initial preference for ELI homeless or transitioning veterans located primarily in underserved rural areas.
Alabama Strategic Plans & Action Plans