Housing Trust Fund Policy - Citywide

Summary

The City of Phoenix has established a Housing Trust Fund to address the significant gap in affordable housing, particularly for low-income and extremely low-income families. This fund, created on May 21, 2025, will be administered by the Housing Department and can be financed through various sources including General Fund contributions, ARPA interest, and development fees. Funds will support homeownership programs, preservation of existing housing, pre-development and construction loans, and gap financing for both city-led and private affordable housing projects. A maximum of 15 percent of the fund can be used for administrative expenses.

Citizen Impact

This initiative aims to increase the availability of affordable housing for residents earning at or below 80 percent of the area median income, with a focus on those at or below 50 percent.

Confidence

high