The Governor’s 2016- 2018 Budget includes $10 million per year for the Housing Trust Fund. This represents an increase of $6 million per year. Language in the budget targets the reduction of homelessness among families and youth as a special priority for the grants portion of the Housing Trust Fund.
The Housing Commission also advanced a bill at their meeting this afternoon for a dedicated source of revenue for the Housing Trust Fund. The bill will be sponsored by Delegate Chris Peace in the House and will allocate 20% of recordation fee collections above $325 million to the Housing Trust Fund.
This is great news and a very good day for affordable housing in the Commonwealth!
NOW… work with us to make sure that these initiatives are approved by the General Assembly in their session starting on January 13th. Join us for Housing Day at the General Assembly on Thursday, February 11th! Details to follow.