Councilwoman Kesha Hodge Washington Applauds New Policy Guiding Use of Phoenix Housing Trust Fund

PHOENIX – The Phoenix City Council today approved a new policy that establishes the framework for how the City’s Housing Trust Fund will be used to accelerate the development and preservation of affordable housing across Phoenix. Councilwoman Kesha Hodge Washington, who has championed strengthening the Fund since joining the Council, celebrated the adoption of the policy as a major step toward expanding access to affordable and attainable housing for Phoenix families. 

Phoenix currently faces an urgent housing need, with a shortage of nearly 60,000 affordable and available rental units most acutely impacting low-income households. While federal and state resources provide some support, local tools are essential to addressing the gap.  

"Expanding access to safe, stable, and affordable housing remains one of my highest priorities. Since joining the Council, I have diligently championed the Housing Trust Fund and I am proud to see this policy come to fruition," District 8 Councilwoman Kesha Hodge Washington said. 

To help meet this need, the City created the Phoenix Housing Trust Fund in May 2025. The Fund currently includes $3.5 million dedicated to affordable housing activities and will grow as additional funding sources are identified. The new policy approved today outlines how the Fund can be administered, what types of projects can be supported, and how investment decisions will be prioritized to ensure resources reach the communities with the greatest need. 

Under the new policy, the Housing Trust Fund may be used to: 

• Expand affordable homeownership opportunities through down payment assistance and Community Land Trust programs 
• Acquire and preserve existing housing or land for future affordable development 
• Provide short-term, low-interest development loans for affordable housing projects 
• Advance City-led affordable housing developments on City-owned land 
• Partner with nonprofit and private developers to fill funding gaps 
• Invest in innovative and community-driven housing solutions 

This adopted policy builds on Phoenix’s leadership in addressing the housing crisis. In 2020, the City Council set a goal of creating or preserving 50,000 housing units by 2030 through the Housing Phoenix Plan. The City exceeded that goal more than five years early, with 61,113 units created or preserved through September 2025—20% of which are affordable to low-income households. 

Councilwoman Hodge Washington issued the following statement: 

“The Housing Trust Fund gives us a much-needed tool as we strive to increase attainable housing stock, respond to rising housing costs, prevent displacement, and support innovative solutions that meet families where they are. With the adoption of this new policy, we are strengthening our approach to housing investments and assuring that resources are directed where they will have the greatest impact for Phoenix residents.” 

The Housing Trust Fund is supported through a combination of sources, including American Rescue Plan Act (ARPA) interest earnings, contributions tied to Government Property Lease Excise Tax (GPLET) agreements, and payments from rezoning projects. 

Media Contact: 
Adam Waltz
(602) 781-1334
adam.waltz@phoenix.gov