The Arizona state housing trust fund, one of the oldest housing trust funds in the nation, will soon double its funding as a result of the passage of HB 2666, the “Governor’s Economic Opportunity Office; Consolidation Act” recently signed into law by Governor Doug Ducey (R). 0000012753 00000 n Not long after the HTF’s allocation increased to 55 percent of unclaimed property, the state’s economic growth resulted in the Unclaimed Property Fund seeing significant increases, which in turn significantly increased the dollar amount going into the HTF, topping out at $40 million in 2007. Because of this risk, the Department was glad to see the Governor prioritize the State’s Rainy Day Fund in the latest budget, since a healthy Rainy Day Fund helps alleviate the potential for future sweeps to the Department’s resources.
10 0 obj <> endobj The Arizona HTF provides the Department with its most flexible source of funding, providing match and leverage resources needed to access and utilize federal housing funds. The Department’s current Director, Carol Ditmore, managed the Housing Trust Fund when she first joined the State in 1995, and probably has more knowledge of the fund’s history and its uses than any one. Governor Doug Ducey signed into law legislation consolidating several states agencies into a state Economic Opportunity Office that directs all net revenue from Arizona Housing Finance Authority (AHFA)’s single-family mortgage programs to the Arizona Housing Trust Fund. Prop C is direct legislation to overhaul taxes on San…, From the Field: State Commits $15 Million to the Arizona Housing Trust Fund, Campaign for Housing and Community Development Funding, Housing California Releases “Ballot Guide 2020” to Educate Voters on Important Housing-Related Direct Legislation, Housing Advocates Make the Case that Housing is a Climate Issue, Support the “Global Warming Solutions Act”, California Supreme Court Upholds Tax on Wealthy Corporations to Fund Homelessness Services.
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A record number of people are homeless in Arizona. endstream endobj 11 0 obj<> endobj 12 0 obj<> endobj 13 0 obj<>/Font<>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 14 0 obj<> endobj 15 0 obj[/ICCBased 40 0 R] endobj 16 0 obj<>stream It’s funded from the sale of unclaimed property, including abandoned stocks … The Arizona Housing Trust Fund first began receiving deposits from the State’s Unclaimed Property Fund 30 years ago. 0
0000000016 00000 n The high housing costs mean people are squeezed to afford food, transportation and health care costs. Since its first deposit, three decades ago, the fund, which is authorized at A.R.S. In 2017, the Arizona Industrial Development Authority (AzIDA) began transferring its single-family mortgage program’s year-end fee balance to the HTF, as required in the legislation that consolidated the bonding programs of the former Arizona Housing Finance Authority into the newly established AzIDA. The Department has been concerned about some external references to past HTF fund balances that only focus on the amount of funds made available to the fund on an annual basis coming from the State’s Unclaimed Property Fund, capped under Arizona law at $2.5 million a year. Arizona’s Housing Trust Fund was created in 1988 to help low-income families with their housing needs and the Seriously Mentally Ill Housing Trust Fund was created in 2011. Said Iverson: “While many of us in the housing and health world understand how home connects to health, education and almost all other issues that impact a person’s life, we needed a way to elevate this understanding to legislators and decision makers. Arizona Department of Housing page 1 of 2. W��6+�m�Thb! ���U� Resources will be distributed in two major metro areas, along with a rural project, and the ability for applicants in any portion of the state to apply for funds to be used towards the development of Supportive Housing Units for formerly homeless.
Portland, Oregon Enacts Construction Excise Tax, Establishes Inclusionary Housing Fund. H�|TkPW��Qd�i���=��� "*�T��:���E�QPc6Wyc�.1�..�4*�G���A�@p��d59����2R�u�n�s�����=��8fl��8>��c�&嶥[�h5!aJm�G~�����!��,�[��K�e�z�ʇ��f�`��|fJ��8n,�]P�G�'2|O���CB��Naogggc�¢���Gbu��X����h��hm�Nf����3 b~�X�6�����U(� u
Rapidly rising rents are making it more difficult to find a home for a growing number of people, particularly in metro Phoenix. As funding was reduced for the Housing Trust Fund, the impact of these programs was significantly limited. 0000009005 00000 n We realized that if housing, health and other community stakeholders could come together to articulate this message, we would have a powerful new voice calling for policies that increase access to a safe, stable, affordable home for Arizonans in need, as well as other policies that improve the health and well-being of people in our state.”. In addition to these five investments, the Department has also set aside funding for transitional housing or homeless shelter projects and expansions for projects that are recommended by local Homeless Continuums of Care and have obtained local government approval. In 2014, it made up 22% of the population. State Housing Fund Program Overview.
trailer In 2012 the legislature reduced the cap to $2.5 million. HB 2666 begins to get the needle moving in the right direction again.”. Follow her on Twitter @Catherinereagor. In the early 2000’s and then again, during the early years of the Great Recession, the Legislature made sweeps to the HTF, as it did to other State resources, in order to balance the budget when tax revenues were waning. 0000002350 00000 n Director Ditmore stated, “I can say, without a doubt, the HTF has been one of the most important resources available to the Department.
"The Arizona Housing Fund is an innovative partnership that will help thousands of people find homes.
This includes new affordable homes, homelessness prevention and emergency shelter, disaster-related housing relief, and housing support to rural and tribal communities. Before the 2009 recession, the fund totaled nearly $40 million in state dollars, which in combination with more than $350 million in federal dollars annually, supported more than 10,000 people each year. This includes new affordable homes, homelessness prevention and emergency shelter, disaster-related housing relief, and housing support to rural and tribal communities. All rights reserved. Arizona’s Housing Trust Fund has been supporting the state’s affordable housing programs since 1988. 0000012037 00000 n This one-time bump is the biggest increase to the fund since the Great Recession in 2009. The shelter system is stuck because there is a critical shortage of safe, decent, affordable housing. $2.5 Million for the Louisville Affordable Housing Trust Fund! The HTF operated for several years under that formula, then in the late 1990’s the legislature amended the statute to increase the fund to receive 55 percent of unclaimed property. 0000008174 00000 n This year’s one-time allocation is the largest increase the Housing Trust Fund has seen since the 2010 cap. The Arizona Department of Housing addresses a myriad of housing needs on a statewide level and oversees resources of over $300 million annually, primarily made up of federal resources. %%EOF During the 2016 legislative session, the Arizona Housing Coalition was successful in diverting future net earnings from the Arizona Housing Finance Authority single-family mortgage program to the Housing Trust Fund. The Department of Housing accepts applications through an annual Notice of Funding Availability (NOFA). “We are excited for this victory in our work to end homelessness and grow the stock of affordable housing options in our state,” said Arizona Housing Coalition Executive Director Joan Serviss. Arizona Department of Housing announced late this summer it will use a one-time appropriation of $15 million in Arizona’s FY 2020 budget to provide critical resources to assist individuals and families in Arizona by adding new beds or affordable rental units, to help vulnerable Arizonans overcome homelessness. Advocates stated that more funding is still needed. �)��?�v��٠� �"��mK��/��j� T- ��;2�;U���bG� �u2Z�3h������{C�s.��Wۅ`c�m=+9~�:����scij���Ԣ�+_�=�]R[#n�s�9,�����<4�a��V������l&��s��ްp�����J�K9�!����Z��ϒ��:���vT�?n���������.5xj��U�"UwI-Wk�� rKG���/4�c���*��#�[`6��{u��N�qJ�/��)��K���$M�CUw����� 0000019660 00000 n
Said Iverson, “Our state was one of the worst hit by the foreclosure crisis, but just as the Housing Trust Fund was needed most, the funding was reduced.
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