Housing Trust Fund for Tempe
A promising beginning has been made toward establishing a sustainable housing trust fund for Tempe. On June 11, 2009, Tempe City Council appointed the City's first Housing Trust Fund Advisory Board which will have the responsibility of working with City staff and the community to identify a funding source to fill Tempe's Housing Trust Fund. Tempe once again led the way by adopting a resolution on January 22, 2009 that authorized the creation of a Housing Trust Fund for the purpose of funding affordable housing activities. This new Housing Trust Fund and the Advisory Board, whose charge is to actively seek revenue sources and promote affordable housing in Tempe, is a pivotal step in providing attainable housing stock that can maintain the diversity of population that has historically characterized Tempe.
 The issue of affordable housing regularly arises in relation to Tempe human service reports. Those populations most in need, including: homeless, aging, people with disabilities, domestic violence victims, etc., list the need for more affordable housing. Often, concern is expressed about adequate workforce housing in Tempe, so people can live where they work. |
What is Affordable Housing?
Affordable housing means different things to different groups depending on a sliding scale of income (see figure 1). For those unable to afford market rate housing, an amount of subsidy is needed. The lower in the household income, the more subsidy is needed, reaching a subsidy of 100% for the homeless that are without resources.
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Need
According to a study by Eliot D. Pollack and Company, commissioned by the State of Arizona in 2002, Tempe had one of the largest affordability gaps in Maricopa County as a percentage of total households: 15% (over 9,000 households) compared to 10.3% in Maricopa County as a whole.
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| Bottom Line
While it is important to celebrate the accomplishments that have been made towards establishing a Housing Trust Fund and seating an Advisory Board, there is still much to do towards addressing affordable housing in Tempe.
There are still significant challenges to be resolved with the Housing Trust Fund; most particularly, what will be the dedicated source of revenue to fill the fund and how will these funds be allocated? Furthermore, how will this trust fund work with existing programs and services in order to create and maintain a permanent source of affordable housing for all Tempeans?
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