President Obama proposes $1B for National Housing Trust Fund

The White House this morning released details of President Obama’s, “Plan to Help Responsible Homeowners and Heal the Housing Market.” Included in the plan is notice that the Administration will request $1 billion in the budget to fund the National Housing Trust Fund.

The White House press release says…

… the Budget will provide $1 billion in mandatory funding in 2013 for the Housing Trust Fund to finance the development, rehabilitation and preservation of affordable housing for extremely low income families. These approaches will not only create construction jobs but will help reduce blight and crime and stabilize housing prices in areas hardest hit by the housing crisis.

The National Low Income Housing Coalition is leading the effort to see that the National Housing Trust Fund is funded to allow the production of rental housing affordable to families with very low incomes.