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Council hears plan to expand Affordable Housing Trust Fund to support homeownership
Summary
Deputy Mayor Allison Ladd told council the Affordable Housing Trust Fund will be amended to allow financing of affordable homeownership projects; the fund balance was cited at roughly $8 million and details on allocations will be developed through competitive solicitations.
The council received an explanation of an ordinance that would amend the Affordable Housing Trust Fund guidelines to permit use of trust funds for affordable homeownership, in addition to the fund’s existing rental‑housing purposes.
Deputy Mayor Allison Ladd, director of economic and housing development, said the trust fund is…
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