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           19 April, 2024

Category:  Press » Real Estate


Speaker to Address Michigan Conference on Affordable Housing Regarding National Affordable Housing Trust Fund

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2008-04-29 03:51:59     
Michigan Conference on Affordable Housing

Ed Gramlich, Director of Outreach for the National Low Income Housing Coalition will address participants at the Michigan Conference on Affordable Housing at 9 a.m. on Tuesday, April 29 at the Lansing Center. Gramlich will provide detail on the National Affordable Housing Trust Fund.

The National Affordable Housing Trust Fund has been passed by the House of Representatives and is awaiting approval in the Senate. If approved, it will be a dedicated source of federal dollars that will be not be funded by tax revenue. In addition, it will not be susceptible to annual appropriations. The Fund's goal is to secure 5 billion dollars -- an amount that would be allocated on an annual basis for ten years -- for the purpose of building or rehabilitating 1.5 million units of affordable housing. The Fund is going about achieving its goal through outreach to legislators and professionals within the affordable housing industry.

In Michigan there are more than 213,000 Extremely Low Income (ELI households) who are paying more than half of their income for rent. At this time, there are only 36 affordable and available rental housing units for every 100 ELI households. If launched, 75 percent the National Affordable Housing Trust Fund will be targeted to benefiting those within this bracket.

Ed Gramlich, Director of Outreach for the National Low Income Housing Coalition said, "This is an excellent opportunity to bring brand new resources into Michigan that will complement existing state and federal resources." Gramlich continued, "While they will not take the place of existing state resources, they will complement them, providing support to individuals who need it most."

At this time, there is no way to pinpoint how much of the fund will be allocated to Michigan. If approved, it will be divided up based on demographic measures and need. Currently, it is in the committee process in the Senate.

Specialized in: Michigan Conference - Affordable Housing - Housing Trust Fund
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