sllewgh t1_isvdmg8 wrote
The Affordable Housing Trust Fund supports what it says it does and is funded by a tax on housing speculation - any sale by someone who doesn't live there to someone who also won't live there. Currently this tax only applies to transactions over $1m, and there aren't that many. We wanted the threshold lower when we passed it, but it can be changed now.
This takes money from the absentee owners behind most blighted vacants and uses it to create affordable housing, help the elderly who can't afford home repairs stay in their homes, ect. The work of winning this, funding it, and setting the right conditions on using the money has been done. Now let's turn up the heat and make the law what it originally should have been.
I do not have an exact figure on what the dollar amount should be, I'll defer to more wonky experts on that.
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