Comment Submitted by Gerald Rioux, San Luis Obispo County Housing Trust Fund

I am writing on behalf of the San Luis Obispo County Housing Trust Fund to wholeheartedly support the proposed allocation formula for the National Housing Trust Fund. The proposed formula accurately reflects the relative housing needs of very low and extremely low income renter households throughout the nation by taking into account: • The relative shortage of decent affordable rental housing, • The extent to which the available rental housing is substandard, • The incidence of overcrowding, • The incidence of severe housing cost burdens, and • Relative construction costs. This formula should ensure that the National Housing Trust Fund will be distributed equitably based on the needs of very low and extremely low income renter households. The San Luis Obispo County Housing Trust Fund is a nonprofit 501(c)(3) corporation that was created in 2003 to increase the supply of affordable housing for low and moderate income households in one of the least affordable housing markets in the United States. To accomplish this, we provide financing and technical assistance to private developers, nonprofit corporations and local governments. During 2009, we provided more than $2.2 million in gap financing to help create and preserve 148 affordable units. Thank you for this opportunity to comment on the proposed rule.