Housing Trust Fund Programs
What Is the Housing Trust Fund?
The City of New Orleans Housing Trust Fund, or HTF, is a dedicated, recurring source of local funding that may be used exclusively to support affordable housing in New Orleans.
In March 2024, the New Orleans City Council voted unanimously to place a Housing Trust Fund amendment to the City’s Home Rule Charter before voters. New Orleans voters approved the amendment on November 5, 2024, establishing a permanent commitment to affordable housing and requiring the City to appropriate at least 2% of its annual General Fund to the HTF.
The HTF is intended to help create and preserve affordable rental housing, expand affordable homeownership, protect existing housing, and support stronger and more resilient neighborhoods. Finance New Orleans administers selected HTF programs authorized and funded by the City through Cooperative Endeavor Agreements.
Frequently Asked Questions
What is the Housing Trust Fund?
The City of New Orleans Housing Trust Fund is a dedicated,
recurring source of local funding that may be used exclusively
to support affordable housing.
Depending on approved funding priorities, the HTF may support
affordable homeownership, rental housing, housing preservation,
rehabilitation, resilient construction, and neighborhood
revitalization.
How was the Housing Trust Fund created?
In March 2024, the New Orleans City Council voted 7–0 to adopt
Ordinance No. 29,828 M.C.S., placing a proposed Housing Trust
Fund amendment to the City’s Home Rule Charter on the ballot.
New Orleans voters approved the charter amendment on November
5, 2024, creating an ongoing local commitment to affordable
housing.
Did the Housing Trust Fund create a new tax?
The voter-approved charter amendment did not establish a
separate Housing Trust Fund tax. It requires the City to
dedicate at least 2% of its annual General Fund to the HTF.
The amount available may change from year to year because it
is connected to the size of the City’s annual General Fund.
What can Housing Trust Fund money support?
Approved HTF investments may support activities such as:
- Creating and preserving affordable rental housing
- Expanding affordable homeownership opportunities
- Repairing and rehabilitating existing homes
- Improving housing resilience and storm protection
- Developing affordable multifamily housing
- Supporting neighborhood stability and revitalization
Every activity must comply with the City’s approved funding
purposes, program guidelines, and applicable agreements.
Who oversees and administers the Housing Trust Fund?
City of New Orleans
- Approves annual HTF appropriations and funding allocations
- Authorizes program budgets and Cooperative Endeavor Agreements
- Provides financial, compliance, and performance oversight
Housing Trust Fund Advisory Committee
- Provides public guidance on housing needs and priorities
- Makes recommendations regarding the use of HTF resources
- Reviews implementation and program outcomes
Program administrators
- Design and implement programs authorized by the City
- Process applications and manage approved financing
- Coordinate with residents, lenders, contractors, and developers
- Monitor program performance and report results to the City
What is Finance New Orleans’ role?
Finance New Orleans is one of the organizations selected to
administer approved Housing Trust Fund programs. FNO designs
and delivers its assigned financing programs under Cooperative
Endeavor Agreements with the City.
FNO does not control the entire Housing Trust Fund or independently
determine the City’s annual HTF budget.
Who determines FNO’s funding and program assignments?
The City determines FNO’s HTF allocations through its annual
budget process and approved Cooperative Endeavor Agreements.
Housing priorities and program recommendations are informed by
the City and the Housing Trust Fund Advisory Committee.
FNO administers programs assigned to it and must use its
allocation according to the approved agreement, program
guidelines, and applicable funding requirements.
Can Finance New Orleans create or change HTF programs on its own?
No. Finance New Orleans may develop program recommendations,
but it administers programs and funding authorized by the City
of New Orleans.
Material changes to program purposes, budgets, or approved uses
must follow the City’s review and authorization process.
How long does FNO have to deploy its current HTF allocation?
Under FNO’s current Cooperative Endeavor Agreements, Finance
New Orleans is expected to deploy its allocated Housing Trust
Fund resources by July 2028.
This deadline applies to FNO’s current allocations. It does not
mean that the City’s permanent Housing Trust Fund ends in 2028.
Who may be eligible to apply for an FNO HTF program?
Eligibility depends on the individual program. Potential
applicants may include:
- Income-qualified New Orleans homebuyers
- Eligible New Orleans homeowners
- Small landlords and property owners
- Nonprofit housing organizations
- Affordable housing developers
- Other applicants supporting approved affordable housing activities
Applicants must satisfy the income, property, location,
underwriting, and other requirements established for the
specific program.
FNO Housing Trust Fund Programs
Finance New Orleans is administering the following programs with its current Housing Trust Fund allocation. Application availability, final program terms, and funding status are provided on each program page.
FORTIFIED RE-UP Loan
Affordable resilient financing for FORTIFIED Roof improvements
The FORTIFIED RE-UP Loan Program provides affordable financing to help eligible homeowners and small landlords install a FORTIFIED Roof™ and complete related resilience improvements. Through FNO’s partnership with SELF, eligible applicants may access up to $25,000 per roof, subject to underwriting, final program guidelines, and available funding.
FORTIFIED Legacy Home Renovation Loan
Purchase, renovate, and protect your home
The FORTIFIED Legacy Home Renovation Loan Program helps eligible New Orleans residents purchase or refinance a home while combining approved renovation costs into one mortgage. Subject to final program guidelines and available funding, assistance may include up to $25,000 for a FORTIFIED Roof™ and up to 5% in down payment assistance.
Learn More About the FORTIFIED Legacy Home Renovation Loan
SMART Small Multifamily Construction Loan
Develop affordable, resilient triplexes and fourplexes
The SMART Small Multifamily Construction Loan Program supports the construction and rehabilitation of affordable, resilient triplexes and fourplexes across New Orleans. It is designed for eligible developers and nonprofit housing organizations seeking to expand rental and homeownership opportunities while preserving long-term affordability.
Learn More About the SMART Small Multifamily Construction Loan
Program availability, allocations, eligibility requirements, financing
terms, and application periods are subject to approved program guidelines,
executed agreements, underwriting requirements, and available funding.
Visit the individual program page for the latest information.
