The Affordable Housing Trust Fund (AHTF) creates affordable rental housing for low and very low income households by making long-term loans for new construction or for the rehabilitation of existing residential structures through a competitive Notice of Funding Availability (NOFA) process.
The AHTF was established by the Mayor and City Council through the City’s budget process in June 2000, in response to the critical shortage of affordable housing in Los Angeles. Seed funding of $5 million was provided, which was immediately committed by the Los Angeles Housing + Community Investment Department (HCIDLA) to fund proposed housing developments that were on the waiting list from the NOFA for that year. In the following fiscal year, $10.5 million was budgeted for the Affordable Housing Trust Fund (Fiscal Year 2001-2002).
In January 2002, the Mayor announced his $100 million proposal for the Affordable Housing Trust Fund, and a multi-year funding plan based on the Mayor’s proposed plan was approved.
Currently, the Trust Fund is comprised of various funding sources, including but not limited to federal HOME funds, Community Redevelopment Agency (CRA) funds, City general funds, and McKinney Act bond funds.
One to three funding rounds are held each calendar year, with projects competing for Trust Funds that are used to leverage Low Income Housing Tax Credits (LIHTC) or funding from other State or Federal housing programs.
Link to AHTF web page