General Program Uses
The Housing Trust Fund, financed by profits in the mortgage loan program, targets assistance to persons of low and very low income. The fund supports several initiatives:
- Appalachian Renovation Loan Program: Provides funding in 31 counties for home repairs through grants to nonprofit organizations designated by THDA as a Program Participant. The program is operated jointly with the Appalachian Regional Commission.
- Competitive Grants Program: Support rental housing activities for households at or below 80% of area median income, including the homeless and chronically homeless; persons with mental, physical or developmental disabilities; individuals recovering from substance addiction; victims of domestic violence; veterans with multiple needs; youth aging out of foster care; and ex-offenders re-entering society.
- Emergency Repair Program: Allocates funds to eight development districts and one human resource agency specifically to repair essential systems of homes to keep them livable for elderly or disabled homeowners.
- Housing Modification and Ramp Program: Provides funding to United Cerebral Palsy of Middle Tennessee to construct ramps and make other modifications to assist persons with disabilities with access to their homes throughout Tennessee.
- Habitat for Humanity of Tennessee: Allocates funds to this nonprofit organization annual since July 2014 to provide construction funding to local affiliates for new construction of single family homes.
- Rebuild & Recover Disaster Program: Helps communities that have been hit by a natural disaster, but do not qualify for Federal Emergency Management Agency (FEMA) or Tennessee Emergency Management (TEMA) funds. Grants are made to the city or county.
- THDA Challenge Grant Program: Provides initial seed funding to support the fundraising efforts of nonprofit organizations across Tennessee to implement housing activities that represent unique milestones, are part of a broad community initiative, or are part of a significant expansion of work outside the normal day to day activities of the organization. Selected proposals must generate cash leverage of at least 500% within nine months of THDA’s commitment of Challenge Grant resources to the housing initiative.
For questions about the Housing Trust Fund, contact Toni Shaw, Manager, Tennessee Housing Trust Fund, 615-815-2034.
A history of the funding sources and outlays for the Housing Trust Fund is available here.