Allocation of Available Trust Funds

In 2019, DHCD met with leadership from the Fair Development Roundtable and with other stakeholders to reach a consensus on how to best allocate the available Trust funds. Those discussions led to the approval of several spending priorities for Fiscal Years 20-22 based on the anticipated availability of $17 Million in Fiscal Year 2020, $16.5 Million in Fiscal Year 2021, and $18 Million in Fiscal Year 2022.

At its July 28, 2020 meeting, the Commission approved a reallocation of funds for Fiscal Years 2020 and 2021. The reallocation was based on less than projected tax revenue in both Fiscal Year 2020 and 2021, which DHCD believes has been greatly impacted by COVID-19, however the final amounts of available revenue will be determined by the City’s Department of Finance. The FY20 year expenses and revenue collections have demonstrated a need that it is best to for the Trust Fund to merge and revise the spending plans for FY20 & FY21.

As a result of this expectation, we have and will continue to work with the Department of Finance to create a revised FY20 and FY21 spending plan as shown below:

AHTF Revised Spending Priorities

 TO VIEW THE ORIGINAL APPROVED PRIORITIES CLICK HERE, as well as the rationale and guidelines for those priorities.