Now more than ever, our community is aware of the effects an affordable housing deficit can have on our community. There is a growing interest among private and public partners to assist and help solve this affordable housing crisis. Through the creation of a taskforce, this interest can be harnessed to develop new funding and low-interest financing mechanisms for our community. The taskforce would include experienced developers, lenders, community leaders, architects and other community stakeholders.
Several efforts in recent years have blossomed from public-private partnerships. For example, the Arizona Housing Fund was established by nonprofit housing developers, the Home Builders Association of Central Arizona, financial institutions, the Arizona Association of Realtors, the Arizona Community Foundation, and many more. These organizations are coming together to create nonprofit grant opportunities to support and expand affordable housing and reduce homelessness. The Arizona Housing Fund is financed through voluntary donations and a voluntary $25 real estate transaction fee. Since its inception, the Arizona Housing Fund has raised $270,000. Another public-private partnership includes the Home Matters Arizona Fund. This fund was spearheaded by United Healthcare and provides an opportunity to combine community funds from six AHCCCS contracted managed care organizations (including Mercy Care). The fund has an anticipated value of approximately $6,000,000.