During a recent government meeting, officials highlighted the significant impact of the Affordable Housing Trust Fund, particularly through a series of compelling videos showcasing its achievements over the past five years. These videos illustrate the transformative effects of the fund on individuals' lives, emphasizing the importance of accessible housing.
The Affordable Housing Trust Fund aims to facilitate the acquisition, rehabilitation, and development of affordable housing, ensuring that all community members can enjoy independent living with dignity. The fund is primarily supported by a 0.05% sales tax, which previously received additional backing from general fund revenue during its initial five years. However, this supplementary funding has since been discontinued, leaving the trust fund reliant solely on the sales tax.
Additionally, a proposed ballot initiative was discussed, which seeks to enhance funding for homelessness and emergency services. Importantly, this initiative is not designed to raise the sales tax for affordable housing directly but aims to address homelessness, with the potential for future benefits to affordable housing as homelessness rates decline.