National Housing Trust Fund Could Mean Millions for Utah Fund

None by KCPW

Housing Analyst Estimates $4M for Low-Income Housing

(KCPW News) The Olene Walker Housing Loan Fund could be getting a boost this year - if Congress passes the National Housing Trust Fund Act of 2007:

"Which could bring in up to possibly $4 million to the state, which then the state would have to put in matching funds. So we could have a fund that could grow by two or three times, this Olene Walker Housing Loan Fund."

Shawn Tiegen is a housing policy analyst with the Utah Community Action Partnership Association (UCAPA). He says UCAPA is trying to get Congressman Jim Matheson to co-sponsor the bill, which is expected to be brought to the House floor next month by Financial Services Committee Chairman Barney Frank.

Utah needs the money a National Housing Trust Fund would bring in order to address what Tara Rollins of the Utah Housing Coalition calls a deficit of affordable housing for low income Utahns:

"Right now for very low income housing they have 57,000 renters right now. Of affordable units, there are 74,000 - so you think that that's going to work. Well, what happens is, we have 47,000 people occupying those units at a higher income, and so it really puts us at a deficit of 30,000 units."

Rollins says the Utah Housing Coalition and other housing advocates will begin pushing the Utah Legislature for a dedicated source of funding for the Olene Walker Housing Trust Fund, which lawmakers currently fund with a yearly appropriation.

You can hear more from Tiegen and Rollins in this Midday Metro podcast.

Email to a friendPosted in KCPW Newsroom. Copyright 2008 KCPW