St Louis Affordable Housing Trust Fund
Through the vision of longtime affordable housing advocate Janet Becker, the City of St. Louis has an Affordable Housing Trust Fund. The fund is filled as a percentage of out of state real estate transfer taxes and varies each year. Much good work has been accomplished through the use of this fund, but there are at least 2 problems.
The first problem is that the city has skimmed money off the top for other purposes. That is clearly illegal, but no one has seen fit to challenge it. The statute was clearly passed with the intention of all the funds being used for affordable housing.
Second, like many organizations in Missouri, the decision making process involving the funds is murky. I know of a small non profit who was not funded, and the Executive Director of the fund would not discuss the reasons for non acceptance. This is a clear violation of administrative due process.
The St. Louis Affordable Housing Trust Fund is a great idea. It needs to make some changes to fully live up to its’ mission. Written by Paul Dribin