2010/11 Development Results
PCHTF achieves leverage ratio of 1:10
The Polk County Housing Trust Fund (PCHTF) released the results of its investments in providing safe, stable and affordable housing for fiscal year 2010/11 today. The Unit Development Results Report outlines how $1.5 million invested by PCHTF helped make possible more than $15.5 million in projects and create and retain 746 units of affordable housing in Polk County. The report also notes which organizations and agencies assisted in achieving this result.
A competitive application process, along with strict post award oversight guarantees that the most worthy projects receive funding and that promised results are achieved.
“These outcomes are the result of a very deliberate process,” said Eric Burmeister, executive director of Polk County Housing Trust Fund. “Each year the committees and the Board of Directors engage in a strategic exercise to determine how PCHTF dollars can most effectively be allocated to increase and preserve affordable housing units in Polk County. Through low interest or forgivable loans we are able to leverage funds on an average ratio of 1:10. That is to say for each dollar the Trust Fund contributes to a project, 10 additional dollars are contributed from other sources. Using public dollars in this fashion is an efficient and powerful way to provide affordable housing.”