New Housing Allocation Plan Targets Gaps
Board approves 2012/13 HAP
Work on and approval of the Polk County Housing Trust Fund’s annual Housing Allocation Plan is the organization’s most strategic exercise. The money allocated to various development activities comes from Polk County and the State Housing Trust Fund. In 2013 the HAP will allocate $1.7 million. The development activities receiving funds include; Pre-Development funding, increasing units for Single Family Home Ownership, protection of existing affordable inventory through Owner Occupied Repair, creation of new units through Rental Development, protection of existing units through Capital Improvement of Existing Rental Housing, and Down Payment Assistance for qualified, moderate income buyers.
After soliciting input from the community the Development Committee sharpened the focus for this year’s plan. Additional project requirements were added to nearly every category to more strategically plan for and target the metro’s inventory needs. Additional funding for projects targeted at housing for very low income clients is included in an effort to fill that evident gap in the community’s inventory.
Beginning July 1st, non-profit and for profit developers of affordable housing will begin to submit their projects for funding. Throughout the year the Development Committee will review those applications and recommend funding to the PCHTF Board of Directors. For more information on the Housing Allocation Plan, application process and the Polk County Housing Trust Fund click HERE.