What Is It?
Illinois:Illinois’ HTF is a typical state housing trust fund. With revenues committed to it from the state’s real estate transfer tax, the Illinois Housing Finance Agency has been able to support nearly 20,000 housing units with almost $100 million in funds since the trust fund began in 1989.
Housing trust funds (HTFs) are distinct funds established by cities, counties and states that dedicate sources of revenue to support affordable housing. Housing trust funds are usually created by legislation or ordinance. At present, there are more than 170 housing trust funds in the United States.
The housing trust fund model is an innovative departure from the way that dollars have historically been secured to support affordable housing.
Last Updated: June 2001