LITTLE ROCK, Ark. – Little Rock leaders approved the city’s first-ever housing trust fund, a move the mayor said will help address the growing affordable housing crisis and expand homeownership opportunities for low-to-moderate-income residents.
The Little Rock Board of Directors approved the resolution in early December, making Little Rock the first city in Arkansas to establish a housing trust fund. City leaders say the program is designed to support new home construction, preserve existing housing and provide financial assistance to residents who may otherwise struggle to afford a home.
Little Rock city leaders look at plans for federal funds to help with March 2023 tornado damage
Mayor Frank Scott Jr. said the trust fund reflects the city’s commitment to affordable housing as a key quality-of-life and public safety issue.
“One of the things that we’ve started to do is understand while we’ve been hitting these goals of close to now 400 homes,” Scott Jr. said. “We want to take it to scale and the best way to take it to scale is to have a true public-private partnership with the private sector.”…