3/23/2007
Media Contact:
Anne Coffey, Department of Metropolitan Development, 327-6709 |
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Housing Trust Fund gets $1 Million annual boost through commitment by Health and Hospital Corp.
Investment is part of city’s push for steady revenue stream to fund housing, homelessness efforts
INDIANAPOLIS –Mayor Bart Peterson today joined representatives of Health and Hospital Corporation of Marion County to unveil a multi-million dollar agreement that will bolster city efforts to create more affordable housing and fight homelessness.
Health and Hospital Corp. will invest $1 million annually into the Indianapolis Housing Trust Fund, which was created by the Indiana State Legislature in 2002 to support the expansion of affordable housing opportunities for low-income residents and families and those struggling with homelessness. One of the architects of the Housing Trust Fund legislation, State Rep. Bill Crawford, was on hand to applaud the unprecedented move by local health officials.
“This extraordinary commitment by Health and Hospital Corp. will go a long way toward supporting our efforts to create hope and opportunity for all who are facing housing crisis,” Mayor Bart Peterson said. “We have a lot of great programs and services at work, but we must have the resources to continue to build on those successes and impact an even greater number of lives. This unprecedented move by Health and Hospital will allow us to do just that.”
Realizing that decent, safe housing is a significant factor in the health of patients and clients, Health and Hospital Corp. believed in the merits of spending more money upfront on supportive housing.
“Our partnership with the Housing Trust Fund will permit us to leverage our resources to maximize our impact on the community,” said Matthew Gutwein, President of Health and Hospital Corp. “The Housing Trust Fund improves access to housing for our community’s most vulnerable neighbors, whom we regularly treat at Wishard and Midtown Mental Health.
“When our patients have access to stable housing, they remain healthier. They use Wishard’s emergency room less. They use Wishard’s ambulance service less. They have less need for long and costly stays in the hospital. This is simply a smart investment for us.”
Gutwein pointed to the success story of Joe Forham, a resident of the supporting housing units at Barton Apartments. After struggling with schizophrenia and battling alcohol addiction, Forham ended up living on the streets. After receiving counseling through Midtown Mental Health, Forham was able to move into a supportive housing unit in the newly redeveloped Barton Apartments last September and now he has a steady job.
Additional City Commitment. In addition to the $1 million annual contribution by Health and Hospital, the Mayor announced a commitment by the city for more supplemental funding support affordable housing. Using proceeds from a downtown redevelopment financing district, the city will invest additional tax revenue generated by the redevelopment of the Rink-Savoy and Blacherne into the Housing Trust Fund. The proceeds should equal about $35,000 annually.
Ongoing funding for the Housing Trust Fund. Last summer, City-County Council approved the first permanent and regular funding source for the Housing Trust Fund. The ordinance signed into law by the Mayor allocates revenues associated with the electronic filing of property sales disclosure forms – approximately $300,000 -- to the Housing Trust. Combined with the two other funding streams announced today, officials expect the annual revenue flowing to the Housing Trust Fund to be around $1.3 million.
Initiatives funded by the Housing Trust Fund. Not including today’s $1 million commitment, the current Housing Trust Fund balance comes to about $1.2 million. More than $1 million dollars from the fund is already at work to support housing programs.
Through a request for proposals, the Housing Trust Fund Advisory Committee has awarded $824,000 to five organizations through the Rental Assistance Program, including Horizon House, Forest Manor Multi-Service Center, Concord Neighborhood Center, Community Alliance for the Far Eastside and the Homeless Initiative Program.
In late 2005, the city made its first grant awards from the Housing Trust Fund. A total of $300,000 was awarded to three organizations to support initiatives assisting more than 100 families either experiencing homelessness or in housing crisis. The trust fund grants were matched by $750,000 from The Indianapolis Foundation, an affiliate of the Central Indiana Community Foundation.
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