Leaders with the Louisville Affordable Housing Trust Fund have secured about $500,000, but the fund’s advocates are urging MayorGreg Fischer to do more to secure annual funding.
The trust fund is meant to give grants and loans for affordable housing activities, such as new construction, home rehabilitation, payment assistance and emergency repair.
About 92,000 Louisville families cannot afford their rent or mortgage, according to a report assessment compiled by the group. The report noted that that number is more than four times the capacity of the KFC Yum Center.
(Read the report here.)
The city made a one-time contribution of $100,000 to the fund that was matched from the business community, in addition to another $250,000 from Kentucky’s National Mortgage Settlement.
The Metro Council created the trust…