Opinion: Council must support housing for those who need it most

Jan-Michele Lemon Kearney, Victoria Parks and Scotty Johnson
·2 min read
2
The city of Cincinnati is set to make a $5 million deposit into an affordable housing trust fund, but not the one City Council created four years ago to help low-income families. The Affordable Housing Trust Fund has spending requirements to help households making less than $57,000, with half of the funding dedicated to families making less than $26,000 per year. The fund the city is placing the $5 million in has less strict spending requirements, and allows the funds to be used on households making up to $100,000 per year.

Four years ago, Cincinnati City Council created the Affordable Housing Trust Fund, designated as Fund 439. It was specifically made "for the purpose of receiving and disbursing funds to preserve and develop affordable housing and prevent homelessness in the City of Cincinnati," with all of the funds being used for households with an income of below 61% Area Median Income (AMI) and half of the funds being reserved for households with an income below 31% AMI.

For the first time, the city will be making a large deposit in the "trust fund" of $5 million. However, that money will not be going to the previously mentioned Fund 439 with those income restrictions. Currently, the money is designated for a different fund titled "Affordable Housing Trust Funding − GF CO." That fund has less strict spending requirements, and allows the funds to be used on households making up to $100,000 per year. This contrasts with Fund 439, which is required to help households making less than $57,000, with half of the funding dedicated to families making less than $26,000 per year.

Cincinnati's Affordable Housing Trust Fund, designated as Fund 439, was specifically made "for the purpose of receiving and disbursing funds to preserve and develop affordable housing and prevent homelessness in the City of Cincinnati."
Cincinnati's Affordable Housing Trust Fund, designated as Fund 439, was specifically made "for the purpose of receiving and disbursing funds to preserve and develop affordable housing and prevent homelessness in the City of Cincinnati."

While a family of four making $100,000 may have difficulties finding affordable housing, we would all agree their need is not as great as that of a family only making $40,000, or even $20,000. Developers will always build market-rate housing that will house middle-income families. For the city to create more housing for those who need it the most, we need to put forth a significant investment.

Currently, there are 30,000 Cincinnati households with 30% or below AMI that are unable to find affordable housing. For households with 80% to100% AMI, that number is just 1,000. To be serious about affordable housing, we need to make sure it is affordable to everyone, not just middle-income families.

In the past few weeks, council has heard from countless constituents that the funding must be targeted to those who need it most. We have heard it through phone calls, emails, and in person at council meetings and in the community. The Greater Cincinnati Homeless Coalition has pointed out that the greatest need is for affordable housing for families below 60% AMI. Former councilman David Mann, the creator of the original Affordable Housing Trust Fund, has also come out against using these funds for households making up to $100,000 a year.

This Monday, we will be introducing legislation to direct this $5 million investment into Fund 439 with the previously mentioned restrictions so that it goes to the Cincinnati families who need it most. We hope the other council members will join us when it comes to a vote.

Jan-Michele Lemon Kearney, Victoria Parks and Scotty Johnson are members of Cincinnati City Council.

This article originally appeared on Cincinnati Enquirer: Opinion: Council must support housing for those who need it most