April 22, 2008

Press Release
Tucson Housing Trust Fund
Employer Assisted Housing Challenge Program

The City of Tucson, through the Tucson Housing Trust Fund Citizens Advisory Committee (THTFCAC), has issued a Challenge Grant to employers of the greater Tucson area that are interested in the developing employer assisted housing in the amount of up to $100,000.

Background: The Tucson Housing Trust Fund (THTF) was created by Mayor and Council in 2007 in recognition of the need of additional affordable housing in Tucson. The development of employer assisted housing has been identified as a goal by the THTFCAC. The committee, in partnership with the Metropolitan Housing Commission and the Drachman Institute, sponsored a symposium on employer assisted housing on April 4, 2008. The symposium provided insight to Tucson's employers as to the many forms of employer assisted housing and best practices across the nation. Additional information on the symposium can be found on the Drachman Institute’s website at www.drachmaninstitute.org.

To be considered for funding please complete the attached application. Applications will be considered on an ongoing basis through September 1, 2008. Please contact Ron Whitman to submit a completed application or obtain additional information at the following address:

Ron Whitman
City of Tucson
Community Services Department
Post Office Box 27210
Tucson, Arizona 85726
Ron.Whitman@tucsonaz.gov
Phone-520.837.5340 / Fax-520.791.2529

Program Criteria and Evaluation Considerations:

-- Housing must be within the City limits
-- THTF is limited to households that earn under 100% of the area income (see chart)
-- Housing can be in the form of ownership or rental
-- Proximity of proposed housing to employment or mass transit
-- Leverage ratio of THTF funding to that of the employer’s
-- Recapture policy
-- Homebuyer Education/Counseling component

CLICK HERE TO FILL OUT ON LINE APPLICATION