WHAT IS A HOUSING TRUST FUND?

Housing trust funds are distinct funds established by city, county or state governments that receive ongoing dedicated sources of public funding to support the preservation and production of affordable housing units that increase opportunities for families and individuals to access decent affordable homes

The Memphis Affordable Housing Trust Fund Campaign is an initiative to create a pool of dedicated and permanent local funds to assist in the development and redevelopment of affordable housing for home ownership and rental units within the city. Unlike other funds that have various restrictions, Housing Trust Funds are flexible dollars that can be used by on-profit developers to support a variety of housing activities.

By providing a flexible, local funding stream community development corporations and other affordable housing developers can increase the supply of quality affordable housing units that keep people safe, keep energy costs low, upgrade homes for senior home owners, and provides accessibility for people of all ages and abilities.

WHY DO WE NEED IT?

All Memphians thrive when we ensure that our neighbors live in safe, healthy, and affordable homes and communities.

There is a shortage of over 30,000 affordable housing units in the city
One in five Memphis renters faces eviction at least once in any given year.
Low property values in under resourced neighborhoods discourage development
Cost to construct a home such as lumber, supplies continue to rise

WHAT IS THE IMPACT?

Economic

Increase home and property value in typically disinvested communities
Higher home appraisals lead to increase in tax revenue from construction related activity
Ongoing job creation and economic opportunities
Increase tax base
Attracts tourism and new residents to the city

Social

Provide more resources for community-based organizations to revitalize their neighborhoods with stronger housing units;
Grow the capacity of community developers to preserve, rehab, and build affordable housing that replaces blighted, unsafe, and substandard housing
Reduce the housing shortages that contribute to individuals and families experiencing homelessness;
Expand quality housing options for families striving to find stability
Improve housing factors associated with negative education outcomes
Reduce crime in neighborhoods and instill pride in one's community

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WHAT IS A HOUSING TRUST FUND?

WHY DO WE NEED IT?

There is a shortage of over 30,000 affordable housing units in the city

One in five Memphis renters faces eviction at least once in any given year.

Low property values in under resourced neighborhoods discourage development

Cost to construct a home such as lumber, supplies continue to rise

WHAT IS THE IMPACT?

Economic

Increase home and property value in typically disinvested communities

Higher home appraisals lead to increase in tax revenue from construction related activity

Ongoing job creation and economic opportunities

Increase tax base

Attracts tourism and new residents to the city

Social

Provide more resources for community-based organizations to revitalize their neighborhoods with stronger housing units;

Grow the capacity of community developers to preserve, rehab, and build affordable housing that replaces blighted, unsafe, and substandard housing

Reduce the housing shortages that contribute to individuals and families experiencing homelessness;

Expand quality housing options for families striving to find stability

Improve housing factors associated with negative education outcomes

Reduce crime in neighborhoods and instill pride in one's community

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