Latest news with #HousingTrustFund
Yahoo
4 days ago
- Business
- Yahoo
Ohio Senate added $100 million worth of housing provisions in the state's two-year budget
New Home Construction The Ohio Senate's version of the state's two-year budget fully restores the Ohio Housing Trust Fund, a big source of funding for local homelessness and affordable housing programs. Ohio Senate President Rob McColley, R-Napoleon, and Ohio Sen. Jerry Cirino, R-Kirtland, introduced the Senate's version of the budget Tuesday and it took out language the Ohio House added that would have changed the Housing Trust Fund, created in 1991 and administered by the Ohio Department of Development. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX The Housing Trust Fund is funded by a portion of the fees collected by county recorders, with half of the fees staying with the county and the other half going back to the fund — which requires at least 50% of the funds be spent in non-urban areas. The House budget would have removed the requirement for county recorders to send the state Department of Development money to reallocate the funds, making it less effective across the state. 'We are incredibly thankful to our champions in the Senate who understand that the Ohio Housing Trust Fund is the state's most powerful tool for fighting homelessness and expanding affordable housing,' Amy Riegel, executive director of the Coalition on Homelessness and Housing in Ohio, said in a statement. The Housing Trust Fund provided emergency shelter for more than 27,000 Ohioans last year, she said. The Senate added $100 million worth of housing provisions in the budget that will create two programs — the Residential Economic Development District grants and Residential Development Revolving Loan Program. The Residential Economic Development District is a $10 million program. '(This program) is aimed at going to areas where there is an awful lot of anticipated housing growth, particularly areas around major economic development projects, and incentivizing local governments around those areas to streamline their zoning codes, to put zoning codes in place, in some cases, that will allow for these housing projects to move forward more efficiently,' McColley said. The Residential Development Revolving Loan Program would support building new, single-family residential homes in rural parts of the state. The Senate's budget would direct $90 million into a revolving loan fund for local governments to finance the program. 'What we're seeing in many rural parts of the state are areas where it is simply uneconomical for home developers to come in and build in many of our rural communities because of the fact that the cost of infrastructure is so onerous in those areas that the amount of homes they would need to build just to break even is simply way more than that local market can absorb,' McColley said. The Senate's version of the budget would also move the Ohio Housing Finance Agency to under the Department of Development. The budget now goes to a conference committee, where Senate and House leaders have closed-door negotiations to come up with a final budget. Both chambers have to pass the bill and it will then be sent to Gov. Mike DeWine, who must sign the budget by the end of the month. Follow Capital Journal Reporter Megan Henry on Bluesky. SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
15-04-2025
- Business
- Yahoo
Charlotte City Council to consider spending millions on affordable housing
Charlotte City councilmembers are considering spending tens of millions of dollars to help create or preserve around 1,000 units of affordable housing. City staff presented the proposed projects to city leaders Monday night. City's new year push for affordable housing: 200 units open in southwest Charlotte The potential projects include spending nearly $20 million on rental developments including 198 units on Oneida Road and 140 units on Old Pineville Road. City staff is asking Charlotte City Council to consider spending $4.7 million on homes for sale. Of that $4.7 million, $2.4 million would go toward building 54 homes on Old Concord Road. City staff is also asking Charlotte City Council to consider spending more than $10 million on preserving existing rental properties, the Hideaway at Kingspark and Woodford Estates In 2024, voters approved $100 million for the Housing Trust Fund. Charlotte City Council will hold a vote in the coming weeks. The embattled Brooklyn Village development is asking for $13.5 million from the city of Charlotte. Peebles Corporation is seeking the money from Charlotte City Council to help build two affordable housing complexes in Uptown. This is the largest Housing Trust Fund request the city has received. Vertical construction of Brooklyn Village won't start until June 2026 City staff is not recommending Charlotte City Council move forward with the proposal. The Brooklyn Village project was announced to great fanfare nearly a decade ago, but nothing has been built. Charlotte City Council will consider purchasing land for a developer to build apartments without dedicated parking. The project would be located on West Trade Street in the former Westside Meats building. READ MORE: Charlotte's first parking-free apartment community Council will consider spending $1.5 million to purchase the 0.45-acre property. The developer is planning 102 units. There will be no dedicated parking. The project is located along the Gold Line.
Yahoo
02-04-2025
- Business
- Yahoo
WA lawmakers unveil capital budget ideas. Here are some local projects that would get funding
Senate and House lawmakers on Monday released their respective 2025-27 capital budget proposals, which feature funding for some big projects in Pierce, Thurston and Whatcom counties. On the Senate-budget side, $770 million would go toward housing, including a record-setting $600 million for the affordable housing-focused Housing Trust Fund. 'I've supported anything related to housing,' said state Sen. Yasmin Trudeau, vice chair of the Senate Ways and Means Committee for the capital budget. 'A lot of that is based on my own lived experience. So, I know the need is acute.' The capital budget, unlike its operating-budget counterpart, is mostly funded via bond sales rather than tax revenue. It appropriates dollars for enduring assets like critical infrastructure, parks, housing, behavioral-health facilities and schools. As the Senate capital budget's lead writer, Trudeau said she had the 'healthiest of the three budgets.' Lawmakers have been working on hammering out proposals for the state's transportation and operating budgets, too. The upper chamber's capital-budget plan also includes a proposal that would authorize up to $5 billion in bonds to cover the removal of culverts obstructing salmon migration. Trudeau on Monday referenced the bipartisanship present in capital-budget discussions. 'I think putting me and (Republican state Sen.) Mark Schoesler in a room might politically make people wonder,' the Tacoma Democrat said. 'I think we wrote a good budget, and we actually have a very healthy respect for each other after the end of this process.' The House's $7.63 billion bipartisan capital budget makes key community and infrastructure investments statewide. State Rep. Mike Steele, a Chelan Republican and ranking minority member on the House Capital Budget Committee, called it a 'bright spot' in a March 31 news release. 'It supports our shared bipartisan priorities — housing, education, behavioral health, and essential infrastructure -- and does not rely heavily on general fund dollars,' he said. 'I'm proud of the teamwork that went into this plan and confident in the positive impact it will have in communities across the state.' Each budget proposal will receive a public hearing before heading for committee votes on April 3. The upper chamber's version is slated for a full Senate vote on Saturday. Next, House and Senate lawmakers will negotiate on a compromise that will need to clear both chambers ahead of April 27, the end of the legislative session. Key Thurston County projects in the 2025-27 House and Senate capital budget proposals include: Nearly $9.24 million to the Department of Enterprise Services for campus energy system replacement in both the House and Senate budgets Nearly $22.11 million for Maple Lane's rapid behavioral health bed capacity in the House budget $49.5 million for legislative campus modernization would go toward the Pritchard and John L. O'Brien buildings in the Senate budget $14.75 million for Deschutes Estuary restoration in the House budget $4.14 million for remedial action at the Budd Inlet sediment site and $1.2 million for Capitol Lake rehabilitation and recovery in the Senate budget; $1.14 million for Budd Inlet sediment site in the House budget
Yahoo
08-03-2025
- Business
- Yahoo
Kansas City approves millions in funding for affordable housing redevelopment project
Kansas City dollars will close a funding gap to kickstart redevelopment of Parade Park Homes, the historically Black-owned former housing cooperative on the east side with over 1,000 new units of housing with a focus on affordability. The City Council approved a funding package on Thursday from multiple sources for the first phase of the project, which will add 480 units of housing, including: A $12 million loan from the Housing Trust Fund for affordable housing that will be paid back over six years, replenishing the fund. The fund currently has about $20 million in the bank. $2 million from city funds for demolition of dangerous buildings. Directing the city manager to find financing with an estimated present value of $3.9 million. Supporting an application for $5 million to the Central City Economic Development board, which would have to approve the application separately. Gavriel Schreiber, general counsel for the mayor's office, told officials earlier this week that the funding represents the City Council 'walking the walk' with an investment in areas of the city that deserve it with safe, dignified housing that everyone in the city deserves. 'This is a crown jewel of Kansas City — of Kansas City's east side, and historic parts of Kansas City that have historically been under-invested in and underrepresented,' he said. Construction could begin in the summer. The first phase of the $300 million project will include a mix of apartments, flats and townhomes in various sizes at more affordable levels. Forty-two of the units will be for residents making up to 30% of the area median income; 48 units will be for residents making up to 50% of the median income; 150 units will be for residents making up to 60% of the median income; while the remaining 240 will be for residents making between 60 and 80% of the median income. According to the U.S. Department of Housing and Urban Development, 50% median income would be $51,550 for a family of four. Plans have been in the works for years to redevelop Parade Park Homes, one of the country's oldest Black-owned housing co-ops until 2022. The complex, in the 18th and Vine Jazz District, faced high vacancy rates and poor conditions in some units in recent years, and community leaders have pushed to find a way forward. Flaherty & Collins Properties and Twelfth Street Heritage Development Corp. took ownership of the site last spring, and the city approved plans in the fall. Current residences will be demolished and replaced with mixed-use commercial space, new amenities and a mix of housing units at various price points, including market-rate units, affordable units and senior housing. There were 164 households in Parade Park when ownership changed and relocation is underway. The 510 existing townhomes will be demolished, and the three-phase redevelopment project includes protections for tenants from displacement and rights to return to the new units with priority. Mayor Quinton Lucas said in a statement that the funding 'ensures Kansas City will continue to honor Parade Park's legacy while also creating modern, affordable housing that keeps this community intact and thriving.' 'Parade Park Homes represents both Kansas City's heritage and our future, and I am proud and honored to be the mayor privileged to ensure this historically Black neighborhood will be strong for generations to come,' Lucas said. Officials announced earlier this year that the Parade Park project received $15.5 million from the federal government from a senior housing grant. Developers sought funding from the Missouri Housing Development Commission this year but did not receive it.
Yahoo
07-02-2025
- Business
- Yahoo
United Way announces Housing Trust Fund program awardees
Feb. 6—BEMIDJI — The United Way of Bemidji Area's Housing Trust Fund, in partnership with Beltrami County, allocated funds totaling $49,500 to St. Philip's Conference of Society of St. Vincent de Paul and Bi-County Community Action Program. St. Vincent de Paul has received funding to directly address the urgent housing needs of low-income individuals and families in Bemidji. With this grant, St. Vincent de Paul can act quickly, often within 24 hours, to meet with individuals, assess their needs and provide immediate assistance to secure housing, a release said. This grant empowers St. Vincent de Paul to provide faster, more efficient support for new housing placements and crisis intervention. Bi-County Community Action Program has been awarded funding to perform essential repairs on two critical housing units in Bemidji, enabling the organization to continue its mission of providing affordable, stable housing for low-income families. Planned repairs include sheetrock replacement, painting and flooring upgrades, new fixture repairs, window, cabinet and door replacements. The repairs will be carried out by a local contractor, supporting both housing stability and the local economy, explained the release. This initiative will create safe and operational housing for homeless, low-income families working with local housing programs, helping them overcome significant barriers to stability. These investments mark a critical step toward addressing housing challenges in Beltrami County, providing life-changing support for families in need and strengthening the entire community, added the release. For more information about the Housing Trust Fund, visit the Grant Opportunities page at
