Hamilton County Reserves $5M for Affordable Housing
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The Hamilton County Commissioners and County Council are planning to set aside $5 million for affordable housing. The county says half of the funds for affordable housing projects would come from the current round of American Rescue Plan Act funding.
“The need is very real,” said Amy Massillamany, member of the county’s ARPA committee. “Many of our neighbors and friends here in Hamilton County have financially struggled over the course of the pandemic. We owe it to them to use this funding to provide them with more housing security.”
The remaining half would be allocated in the next round of funding, and the funds would be reserved until the Hamilton County Housing Coalition identifies a project that meets the ARPA committee’s goals. The coalition estimates it would cost $51 million to launch a countywide program, and it has already identified $31 million through Community Development Block Grants.
“These dollars could be truly transformational,” said County Commissioner Christine Altman. “The more we invest, the more impact we can make. That’s why we’re challenging Hamilton County’s cities to follow our lead and commit ARPA dollars to making sure our residents can afford to live in our great county.”
The ARPA allows contributions to be spent on the National Housing Trust Fund and the HOME Investment Partnerships Program. The National Housing Trust Fund increases and preserves affordable housing for extremely and very low-income households, while the HOME Investment Partnerships Program provides grants to build, buy, or rehabilitate affordable housing.