HOUSING TRUST FUND A community driven solution to provide homes for all!

From the 2022 Martin Luther King Day edition of the Detroit People's Platform NEWS.

In 2017 Detroit housing justice advocates and residents organized and WON the creation of Detroit’s Affordable Housing Trust Fund (HTF) passed through the City’ Council’s Inclusionary Zoning Ordinance.  

What is a Housing Trust Fund? 

Housing Trust Funds (HTF) are created by city, county and state governments to direct specific public funding to support the production and preservation of affordable housing. In Detroit Housing Trust Funds increase the opportunities for families and individuals who make $35 thousand dollars are less to have quality and accessible housing. 

How the Housing Trust Fund Works in Detroit. Money for the Housing Trust Fund is made available in the annual Detroit city budget and includes 20% of the net profits of city owned commercial property sales. Developers who do not meet the requirements of the ordinance may also have to pay a fine into the fund.

Who Benefits from the Housing Trust Fund?  The HTF is intended to develop and preserve affordable housing in Detroit for Individuals and families who earn less than $35 thousand dollars a year – NOT high income earners . 

Recently the HTF helped to develop the following

• provided new and renovated housing for families and roughly 100 children 
• new apartments for adults who were formerly homeless, 
• housing for vulnerable youth in need of safe housing with special services. 

Clearly the HOUSING TRUST FUND is a success and is meeting a real housing need in Detroit! 

What Detroiters Need?  INCREASED FUNDING for the Housing Trust Fund that will produce MORE affordable and accessible housing for Detroiters. 

From the 2022 Martin Luther King Day edition of the Detroit People's Platform NEWS.

People's Platform NEWS 21

Vol. 21, Martin Luther King Day 2022

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