The S.C. Housing Trust Fund was established by Act 410 in July
1992. The act is considered by many to be landmark legislation. It
was the first legislation in S.C. history that committed revenues to
the development of affordable housing. This commitment placed South
Carolina among the leaders in the nation in its dedication to the
housing needs of low-income and special-needs populations.
In the 10 years the trust fund has been in operation, the S.C.
Housing Authority has invested more than $47 million in 45 of South
Carolina's 46 counties, producing or improving 4,485 affordable
housing units that house more than 17,400 very low income, elderly
or disabled South Carolinians who are among the most difficult
[people] to affordably house. The trust fund enhances the housing
development capacity of communities across the state by attracting
other public and private financing. The trust fund can finance new
construction, rehabilitation or the purchase of housing for
renovation and occupancy by low- and very-low-income persons.
We have recently been informed of the S.C. General Assembly's
consideration of cutting up to $5.7 million from the trust fund. We
are appalled that our legislators would even contemplate raiding a
program that allows funding of affordable housing for low- and
moderate-income South Carolinians, including the working poor.
I know these are tight budget times, but these funds were put
there as a "trust" by South Carolinians to help those who are less
fortunate and those being hit hardest by these difficult economic
times. I urge our legislators not to take funds from this vital and
important program.
Contact Gardner, president of the S.C. Affordable Housing
Coalition, at AHCofSC@aol.com.