Housing First Trust Fund aims to increase homeownership, rental assistance in Rochester

According to city officials, the Housing First Trust Fund would be a “dedicated revenue source to fund efforts to improve residents’ access to stable, affordable and quality housing,” with a number of potential goals of:

Provide funding to the Rochester Land Bank to acquire higher-quality properties for owner occupancy programs
Work with the renters of two-family homes to help them acquire the property, become owners and accelerate their financial growth to stabilize city neighborhoods
Allow the Land Bank to offer properties directly to residents seeking to buy a home without them having to competitively bid against investors
Provide new owner-occupants with $24,999 rehabilitation grants, as well as financial literacy and financial planning assistance to ensure long-term stability and wealth building
Strengthen neighborhoods by offering any city-owned tax lien acquisitions via lottery for one dollar to residents on the same street. This would allow homeowners to build wealth and strengthen stability of city neighborhoods. Owners of these properties would be eligible for rehabilitation grants and other services to ensure the creation of safe and affordable rental properties
Expand emergency-based debt and rent relief to qualifying residents. This will help prevent evictions and foreclosures and stop temporary financial crises from becoming negatively life-altering events
Reduce owner and tenant utility costs by making energy efficiency improvements in newly constructed or renovated housing for low-income residents
Fund supportive services within housing court to help families overcome problems related to eviction