The National Housing Trust Fund Campaign applauded the introduction of legislation to create a National Affordable Housing Trust Fund (NHTF).
“The NHTF Campaign has reached this milestone today because of the hard work of thousands of low income housing advocates who are educating their elected officials about the critical shortage of affordable housing for the lowest income people in our country,” said Sheila Crowley, president and CEO of the National Low Income Housing Coalition (NLIHC), which coordinates the campaign for the National Housing Trust Fund. “We look forward to working with Senators Kerry and Snowe and the other original cosponsors to move their bill through the Senate in 2008.”
The bill will establish a dedicated funding source for the production, preservation and rehabilitation of 1.5 million affordable homes over 10 years. At least 75 percent of the funds will be for housing for households that are extremely low income, earning less than 30 percent of an area's median income.
The bill was introduced by Senator John Kerry (D-MA) with the tripartisan co-sponsorship of Senators Olympia Snow (R-ME), Bernie Sanders (I-VT), Pete Domenici (R-NM), Charles Schumer (D-NY), Susan Collins (R-ME), and Edward Kennedy (D-MA).
The House has passed its version of the bill by a “strong bipartisan vote” of 264-148, says NLIHC.
source: multi-housingnews.com
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