Housing trust fund

The Department of Housing and Urban Development's Assistant Secretary for Community Planning and Development awarded $3.13 million through the Housing Trust Fund (CFDA 14.275) to the South Carolina State Housing Finance & Development Authority on September 17, 2025. This formula grant, with a completion date of September 17, 2032, supports the expansion and preservation of affordable rental housing for extremely low-income and very low-income households throughout South Carolina. The Authority will deploy these funds primarily toward rental housing production, preservation, and rehabilitation activities, with allowable allocations for homeownership assistance and administrative costs in accordance with program requirements.

The Housing Trust Fund grant enables the South Carolina State Housing Finance & Development Authority to provide financial assistance—including grants, equity investments, and loans—to acquire, construct, or rehabilitate affordable housing units targeting households earning at or below 30 percent of area median income. In compliance with program requirements, the Authority must commit all awarded funds to specific housing projects within 24 months and fully expend funds within five years. The seven-year performance period reflects the long-term commitment to addressing South Carolina's affordable housing challenges through this federally-funded initiative, which is uniquely supported by contributions from government-sponsored enterprises rather than Congressional appropriations.