Jackson city officials have just approved a Housing Trust Fund for the City of Jackson.
The vote was unanimous by Jackson City Council members.
47 states already have Housing Trust Funds and this will be the first in the state of Mississippi.
Before that vote, members of Working Together Jackson spoke about the need for a fund like this. The fund will be used to finance the development of low and moderate income housing in Jackson. It will also be used to help get rid of those abandoned homes.
Many housing advocates have been working for years to create a Housing Trust Fund in Mississippi. But there were some concerns as to where the money in this fund would come from.
"If we are going to be serious about the housing issues, we've got to want to fix it, then we are going to have to find the sources of funds and find ways to solve the problem. So yes but it's not a new tax," says Phil Edie of Working Together Jackson. "We are not looking to raise taxes. We are not looking to increase taxes on anybody."
Councilman Kenny Stokes says, "If we can save these houses and get money to people in these houses, whether they are veterans or low income people or fixed income people, that's what's going to make Jackson a better place."
Mayor Yarber says his administration is going to be applying for federal dollars through HUD. Having this fund will put them in good standing of receiving some financial assistance.
Working Together Jackson will be presenting ideas around the funding within the next few weeks to the Mayor and Council.
This is still in the beginning stages but officials are excited about it. They say this will help with the growing housing problems in the City of Jackson.
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