Creating a Housing Trust Fund
Most communities decide to create a housing trust fund to have a municipal entity focused on addressing local housing needs. But how will this new entity work within your community’s existing housing infrastructure? Do you already have an Affordable Housing Committee or Partnership? Is your Housing Authority active in creating new affordable housing or managing housing vouchers? Is there a non-profit focused on housing in your community?
Take some time to consider any gaps in addressing your local housing needs and if a housing trust fund may be the best entity to fill the void.
Secondly, many of our communities heavily rely on volunteers for existing boards and commissions. A critical question is whether or not your community has the capacity to sustain another board.
Additionally, will the community support the housing trust fund with resources so the trustees can be effective in addressing needs? It is only with financial resources that a housing trust fund can fulfill its purpose.
For guidance in developing a housing trust fund campaign:
- A Workbook for Creating a Housing Trust Fund
- The Impact of Research Evidence as an Advocacy Tool in Housing Trust Fund Campaigns
For a Massachusetts Case Study:
For more information on how to form and fund trusts, check out MHP's MAHT Trust guidebook. For more detailed information on how to effectively manage your housing trust, check out MHP's MAHT Operations Manual.
Contact Shelly Goehring at MHP for more information on housing trusts.