Affordable Housing Trust Fund
Affordable housing trust fund
The Affordable Housing Trust Fund was set up by the City to act as a repository for development fees generated through the affordable housing program, as well as for program income funds that are paid back to the City. Another source of funding are land sales revenues from Tierra Contenta. To supplement CDBG funding, the trust fund was set up so that at least 51% of funds must be used for downpayment assistance. Other prioritized activities include rental assistance for very low income renters and real estate/infrastructure funding to support nonprofit development.
Every year, the City’s Community Development Commission sets funding priorities and an RFP is released that is commensurate with the CDBG funding schedule as described in the preceding section. In order to achieve efficiency, the CDC will consider the applications for funding from the AHTF at the same time as CDBG funding requests.
For 2021-2022 funding opportunities, please see the BIDS/RFP page available on January 27, 2021: City of Santa Fe BIDS/RFP's