Month: February 2019

Press Release: Funding the Affordable Housing Trust Fund

  First Time Funding for Affordable Housing Trust Fund Is Important Step Forward:  Significant Dedicated Annual Funding Still Needed
 For Immediate Release:  February 7, 2019
From:  Greater Cincinnati Homeless Coalition & Affordable Housing Advocates
Contact:  Josh Spring LSW, Executive Director; 513-716-7455.
Cincinnati Mayor John Cranley and Council Member David Mann’s proposal, likely to be approved by City Council next week, to make a one-time allocation of approximately $700,000 from the city-owned Norfolk Southern Railroad into Cincinnati’s new Affordable Housing Trust Fund is a positive step forward. 
The Affordable Housing Trust Fund was created by City Council on December 12, 2018 after more than a year of advocacy and organizing by Affordable Housing Advocates (AHA) and the Greater Cincinnati Homeless Coalition. (1)  Whereas, Hamilton county is short 40,000 affordable homes, 28,000 of which are needed in the City(2), substantial dedicated annual city-revenue sources are needed for the Housing Fund.  Soon AHA and the
Homeless Coalition will publicly announce proposed sources.
 
It shows important forward movement that the Mayor and Council members will be allocating these funds to the Housing Trust Fund for the development of some safe and healthy affordable homes.   The crisis level shortage of affordable housing has compromised our neighborhoods and increased housing instability and homelessness to staggering levels.  As housing and homelessness advocates, we consider the Affordable Housing Trust Fund to be a necessary tool for fighting our City’s current affordable housing crisis.
 
Council passed the Housing Trust Fund without funding, but with a promise to legislate needed dedicated revenue sources.  If passed by City Council, this disbursement will be the first funding allocation to the Trust Fund and represents a positive step forward.  Since the passage of the Trust Fund, AHA and the Homeless Coalition have been doing the necessary research and preparation to recommend and advocate for significant, annual city revenue sources for the Housing Trust Fund.

In order to rise from this housing crisis, we must annually generate significant city revenue specifically for the Trust Fund.  AHA and the Homeless Coalition are dedicated to everyone having a safe place to call home.  We must also pass legislation that will protect people from unjust evictions and displacement for profit.  Soon, AHA and the Homeless Coalition will announce new and necessary proposed city revenue sources.

(1) Ordinance No. 364-2018, City of Cincinnati, December 12, 2018.
(2) Housing Affordability in Hamilton County, Xavier University Community Building Institute, February 2017.
Page 3, Housing Affordability in Hamilton County, Xavier University Community Building Institute, February 2017.