Retooling Affordable Housing Strategies Part 11 of 19
The trust fund is unique in that it is a nonprofit subsidiary, a community housing development organization, a housing finance corporation and the citys housing trust fund Seven Dollar Stock Secret administrator. This makes the organization flexible in its approach to funding development requests. The trust is independent of any city department, but the board can only make funding recommendations to the City Council, based on a review of development proposals.
Interest earned from the $10 million corpus and loan servicing capitalize the funding rounds that are held about every one and a half years. Since its inception, the trust has awarded almost $13 million to nonprofit housing organizations, historic preservation Instant Forex Profit groups and private developers. These funds have leveraged over $190 million in private and public funds, a nearly 15 to 1 ratio. John Kenny, executive director, says the San Antonio Housing Trust has created 3,600 units of affordable housing since its inception.
Infill Incentives
Municipal leaders have long touted infill development as an alternative to conventional development patterns that cause urban sprawl. Infill can be defined as the recycling of vacant or underused tracts within cities and suburbs. Every city, town and suburb has properties that need rehabilitation or development. Local governments use infill incentives to promote development in places where infrastructure and services are present.
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