National Housing Trust Fund
National Housing Trust Fund (HTF)
The National Housing Trust Fund Program (HTF) was created by Title I of the Housing and Economic Recovery Act of 2008, Section 1131 (Public Law 110-289). The purpose of the HTF is to provide grants to State governments to increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low- (30% AMI) and very low-income (50% AMI) households, including homeless families. However, if the HTF allocation for the entire program is less than $1 billion, 100% of the HTF grant must be used for the benefit of 30% AMI households.
Hawaii Housing Finance and Development Corporation (HHFDC) has been designated by the Governor, as the HTF Grantee for the State of Hawaii. States are required to use at least 80% of each annual grant for rental housing; in addition, states may use up to 10% for homeownership housing and up to 10% for administrative and planning costs. Eligible activities include: acquisition, new construction, reconstruction, or rehabilitation of non-luxury housing with suitable amenities.
HHFDC will allocate its HTF program funds in all counties, including the City and County of Honolulu, for the development or preservation of affordable rental housing for households with incomes at or below 30% AMI. After retaining funds for its administrative costs, HHFDC will allocate fifty percent of its annual allocation to the City and County of Honolulu. The remaining fifty percent will be rotated between the neighbor island counties of Hawaii, Kauai and Maui, on the same rotation as the HOME program. For program year 2016, the HTF funds shall be allocated to the City and County of Honolulu and County of Kauai, as subgrantees, to administer the HTF program.
For more information, you can go to: https://www.hudexchange.info/programs/htf/