Title
Housing Phoenix Plan and Housing Trust Fund Update - Citywide
Description
This report provides an update on the Housing Phoenix Plan and the Housing Trust Fund and requests City Council approval of the spending and allocation plan for the Housing Trust Fund.
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. Acknowledging that affordable, accessible and decent housing is of critical importance to a community’s health and viability, the Phoenix City Council approved the Housing Phoenix Plan on June 16, 2020. The Plan's vision is to create a stronger and more vibrant Phoenix through increased housing options for residents at all income levels and family sizes. To achieve this vision, the Plan set out a goal of creating or preserving 50,000 units by 2030 through the implementation of nine policy initiatives. The City has exceeded the Housing Phoenix Plan’s goal of creating or preserving 50,000 housing units by 2030 with more than 71,000 housing units created or preserved as of September 2026. The latest Housing Phoenix Plan quarterly report is included as Attachment A.
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. On November 18, 2025 Phoenix City Council approved a policy to guide the administration and use of funds for the City’s Housing Trust Fund. The approved Housing Trust Fund Policy is included as Attachment B.
The approved Fiscal Year 2026-27 Budget included a one-time $6.6 million General Fund allocation to the Housing Trust Fund, bringing total available resources to approximately $15 million. Staff will present a recommendation for spending and allocation of Housing Trust Fund resources, which will include support for homeownership, eviction prevention and gap financing activities, consistent with the approved Housing Trust Fund Policy.
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Housing Department.