Title
Housing Trust Fund Policy - Citywide
Description
This report provides an overview of the City of Phoenix’s Housing Trust Fund and requests City Council approval of the Housing Trust Fund Policy.
THIS ITEM IS FOR DISCUSSION AND POSSIBLE ACTION.
Report
Summary
The City of Phoenix has long prioritized increasing the supply of housing for all income levels and family sizes. Building on this prioritization of housing, Phoenix City Council approved the City of Phoenix’s first housing policy plan, the Housing Phoenix Plan, in 2020. The City has exceeded the Housing Phoenix Plan’s goal of creating or preserving 50,000 housing units by 2030 with more than 61,000 housing units created or preserved as of September 2025.
Understanding the need for additional funding tools and to further the commitment toward affordable housing within the City of Phoenix, Phoenix City Council created the Phoenix Housing Trust Fund on May 21, 2025. Funded through American Rescue Plan Act (ARPA) interest earnings in addition to contributions from Government Property Lease Excise Tax (GPLET) and rezoning projects, the Housing Trust Fund currently has a balance of $3.5 million.
A housing trust fund is a dedicated source of funding for affordable housing activities that is administered at the local level. Taking the City of Phoenix’s affordable housing needs and priorities into account, the Housing Department has developed a Housing Trust Fund Policy to guide the administration and use of funds for the City’s Housing Trust Fund. The policy provides a framework for administration of the fund and future funding awards, outlines permissible uses of fund dollars, sets priorities for funding awards and specifies parameters of those awards. The proposed Housing Trust Fund Policy is included as Attachment A.
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Housing Department.