Housing Investment Trust Fund

The Housing Investment Trust Fund (HITF), established through CB-21-2012, and amended in CB-57-2017, serves as a vehicle to provide Gap Financing with an emphasis on supporting the development of new construction, rehabilitation and preservation of existing affordable housing while targeting households earning up to 120% of the area median income (AMI).

On March 30, 2021, the County Council enacted CB-004-2021, which established a sustainable source of funding for the Housing Investment Trust Fund by reallocating a certain percentage of the County’s recordation taxes to provide support for the fund; requiring certain financing for the fund.

DHCD will apply the underwriting guidance and procedures for the HOME program to the HITF; however, where necessary, exceptions or specific points of departure may be applied to HITF underwriting criteria at the discretion of the DHCD Director.

HITF Term Sheet