HHCK’s advocacy priority for the 2006 Kentucky General Assembly was to create a dedicated revenue source for Affordable Housing Trust Fund (AHTF). The Affordable Housing Trust Fund was part of the 2006 Omnibus Housing Legislation introduced by Representatives Jim Wayne and Charles Silers.
The outstanding accomplishments of the AHTF in Kentucky since it began in 1994 follow:
- Created more than 5,700 units of affordable housing.
- Served people living in 116 out of 120 counties in Kentucky.
- Leveraged $6 for every $1 spent on affordable housing.
- 58% of the AHTF has gone directly to the private sector for purchase of supplies and construction work.
- All funds targeted to people living at 60% of area median income and below.
The 2006 Affordable Housing Campaign included hundreds of housing advocates, social service providers, and consumers joined us from across the state, working on behalf of low income consumers with critical housing needs.
On April 11th, 2006, House Bill 537 passed out of the Kentucky Senate by a vote of 26-6. As a result of this legislation, which became a law on April 25th, 2006, the Kentucky Affordable Housing Trust Fund will receive $6.00 in recording fees on 23 different instruments that county clerks across the state record, including deeds and mortgages. The actual cost to the consumer is only $4.00 per recorded instrument (due to the flexibility and good will of Kentucky's county clerks). The Legislative Research Commission estimates that this legislation will generate $4.3 million annually for the Affordable Housing Trust Fund. We believe that the fees collected may even exceed that amount. The new fees will be collected as of August 1, 2006.
The Homeless and Housing Coalition of Kentucky is grateful to all of the organizations and people across the state who worked together to make the Affordable Housing Trust Fund's dedicated revenue source a reality in the 2006 legislation session. Partners that deserve special mention include the Metropolitan Housing Coalition, the Coalition for the Homeless, and CLOUT (all based in Louisville); Kentucky Habitat for Humanity; Kentuckians for the Commonwealth; and the faith community across the state. In addition, the Homeless and Housing Coalition of Kentucky is appreciative of housing industry partners, most notably the Homebuilders Association of Kentucky.
For more information, please see the documents attached below:
1. Final Affordable Housing Trust Fund Legislation - House Bill 537
2. List of Organizational Endorsers
3. Brochure on the Uses of the Kentucky Affordable Housing Trust Fund
For more information, please email Sara Coppler or call 502-223-1834.