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Mayor and housing office outline first‑year plan for new $20M housing trust fund
Summary
Following voter approval of Proposition C, the mayor’s office and the city’s housing agency detailed Year‑1 allocations from a $20 million set‑aside and a 30‑year housing trust fund, prioritizing down‑payment assistance, housing stabilization and program design work for neighborhood infrastructure grants.
The mayor’s office and the Mayor’s Office of Housing and Community Development outlined plans on June 17 for the new Housing Trust Fund created by Proposition C, proposing a $20 million initial allocation for the fund in fiscal 2013‑14 and a multi‑year build‑out of resources for affordable housing and homeownership supports.
Deputy Director Gigi Whitley said the first year’s priorities are rapid deployment of funds to programs that can move quickly — including existing down‑payment assistance and housing stabilization programs — while designing the neighborhood infrastructure grant program that will begin…
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