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Housing Trust Fund
What is a Housing Trust Fund?
Rather than having to rely on funds coming from Washington D.C. for affordable housing (and the uncertainty and rigid requirements surrounding them), Housing trust funds commit dedicated public revenue to affordable housing for a state, county or municipality through the creation of housing trust funds. There are now nearly 40 state housing trust funds and more than 350 city and county housing trust funds in operation. They dedicate in excess of $750 million each and every year to help address critical housing needs throughout the country.
Housing trust funds support the preservation and production of affordable housing and increase opportunities to access decent affordable homes.
Housing Opportunities for Maine Fund
The Housing Opportunities for Maine (HOME) Fund is our state’s housing trust fund. It was first formed in 1982.
The HOME Fund provides critical support to:
- Housing for Homeless folks
- Maine Cities and Planning Grants
- Supportive and Low-income housing
- Helping first time home buyers
- Improving substandard housing
The HOME fund also helps generate matching federal funds for affordable housing initiatives.
The Maine People's Alliance Housing Strategy Committee's works to strengthen and broaden the HOME Fund so that it reaches more Mainers and has a source of revenue Mainers can rely on every year to be there. We organize our members to develop and pass legislation in support of affordable housing funding, educate decision-makers about affordable housing as a foundation to a healthy community, and work to increase the representation of low-income people, people with disabilities and all consumers at the state’s housing decision-making tables.
Join us in our campaign
We meet every 4th Thursday of the month. Call Kate at 782-7876 for details.
More about Housing Trust Funds
More information about Housing Trust Funds can be found at the Center for Community Change website,
www.communitychange.org
Or download our Affordable Housing fact sheet (in PDF format)