Tucson Housing Trust Fund (THTF)
On October 10, 2006 Mayor and Council unanimously established the THTF, authorized initial funding sources and approved a governance structure.
Need
• Good quality housing that is affordable to the average family is a keystone for Tucson’s future.
• A Housing Trust Fund is a local initiative to meet this need.
Funding
• The THTF annual funding goal is three to five million dollars.
• Initial sources are the sale of City-owned properties, a fee on the conversion of rental properties, and unexpended funds from the utility service low income assistance program.
• All housing stakeholders are being approached to share in the HTF financing. No one sector is being asked to shoulder the entire responsibility.
Attributes
• A THTF, overseen by a Mayor and Council appointed Committee, will be more flexible than federal programs in creating local answers to local housing problems.
• The THTF is devised to be sustaining within five years by recycling the majority of its funding.
• The THTF will also increase opportunities to leverage private, state and federal funds.
Families Served
• Approximately 2,100 families will be assisted for every million dollars dedicated to the THTF over the next 20 years.
• This breaks down to 900 families being helped with down payment assistance to get into their first home, 800 families with improvement loans to maintain their residences and 400 of the city’s most vulnerable families with new or improved rentals.
For more information click on the links below or contact Ron Koenig or Ron Whitman at (520) 791-4636.
Tucson Housing Trust Fund Draft Implementation Plan
“A Solid Foundation - A Strong Community” Brochure