Investment in the National Affordable Housing Trust Fund
Last year, Congress authorized a new National Housing Trust Fund (NHTF) program to invest new funding in the development and preservation of rental housing targeted to extremely low-income households. Over time this new NHTF program offers tremendous promise in addressing the affordable housing needs of people living on Supplemental Security Income (SSI). An important study by the Technical Assistance Collaborative (TAC) and the Consortium for Citizens With Disabilities (CCD), known as Priced Out 2008, demonstrates that non-elderly adults living on SSI are (on average) at 18% of area median income – well below the standard of extremely low-income renters.
Once up and running, the NHTF will provide capital funding through state housing agencies developing and preserving affordable rental housing for extremely low-income households. The Obama Administration has pledged to support an initial investment of $1.2 billion in 2010.