The U.S. Conference of Mayors
2007 ADOPTED RESOLUTIONS
COMMUNITY DEVELOPMENT AND HOUSING

SUPPORTING THE CREATION OF A NATIONAL HOUSING TRUST FUND

WHEREAS, housing is at the core of strong communities, promoting neighborhood stability, improving educational opportunity, employment stability, and helping owners to build wealth; and

WHEREAS, the U.S. Conference of Mayors 2006 Hunger and Homelessness Survey found that one of the primary causes of homelessness is the lack of affordable housing; and

WHEREAS, a 2006 National Low Income Housing Coalition study found that there are roughly nine million renter households nationwide who pay half or more of their income for housing; and

WHEREAS, safe, decent, and affordable housing is at the foundation of strong families and communities; and

WHEREAS, unmet housing needs have reached an all-time high; and

WHEREAS, working people in our cities are having a difficult time finding affordable housing and 9.6 million of the lowest income families in the U.S. pay more than half of their income for housing; and

WHEREAS, since 1976, new federal spending on housing has decreased substantially; and

WHEREAS, housing represents 23 percent of the U.S. gross domestic product, is an economic stimulus and creates jobs; and

WHEREAS, affordable housing must be a national priority; and

WHEREAS, nearly 600 state and local housing trust funds have been created, which serve as models for what can and should be done at the national level; and

WHEREAS, a national housing trust fund should be established to construct, rehabilitate and preserve housing; and

WHEREAS, local governments have played a significant role in the development of affordable housing and that role is recognized and supported by the proposed national housing trust fund,

WHEREAS, the three decade long housing trust fund movement continues to grow to where there is now more than 600 state and local housing trusts that collectively generate 1.6 billion dollars a year; and

WHEREAS, federal legislation recently passed the U.S. House of Representatives' Financial Services Committee authorizes the creation of an Affordable Housing Fund based on the revenues of the government sponsored enterprises Fannie Mae and Freddie Mac; and

WHEREAS, it is anticipated that the Affordable Housing Fund will become a part of the National Housing Trust Fund, providing for even more funding capacity for the production and preservation of housing; and

WHEREAS, the Conference of Mayors has already adopted strong policy for a National Housing Trust Fund;

NOW, THEREFORE BE IT RESOLVED, that the Conference of Mayors reaffirms its policy by calling for the passage of a National Housing Trust Fund primarily, but not exclusively, designed to meet the needs of the very low income, i.e. 30 percent of the AMI or below, through the preservation and production of housing; BE IT ALSO RESOLVED, that The U.S. Conference of Mayors strongly supports that 60 percent or more of the funding of the National Housing Trust Fund should be allocated to localities.

2007 The U.S. Conference of Mayors
Tom Cochran, Executive Director
1620 Eye Street, NW, Washington, DC 20006
Tel. 202.293.7330 ~ Fax 202.293.2352
info@usmayors.org