The Louisville Affordable House Trust Fund is set to name a new executive director to replace Rachel Hurst, who left the post late last year.
The trust fund provides services such as grants and loans for the development and rehabilitation of affordable housing in Louisville.
Christie McCravy is expected to be announced as the new executive director next week. She is currently listed as the director of the Louisville Urban League’s center for housing and financial empowerment. She’s served on the board of the Louisville Affordable Housing Trust Fund and is the former board president for the Metropolitan Housing Coalition, according to the Louisville Metro website.
She also has experience with home financing and home purchasing counseling.
McCravy is expected to begin her new role next month.
The role of the Louisville Affordable Housing Trust Fund is to facilitate development and rehabilitation of affordable housing by making grants and loans, providing technical support and enabling builders and developers to construct affordable housing with less financial risk, according to its website.
It was established in 2008 by the Louisville Metro Council. Since its inception, advocates have long called for a permanent stream of revenue that would provide the funding needed to find and put more people into affordable housing.
Hurst, the former executive director, had held the position since 2012.
In a statement, the trust fund board chairwoman Natalie Harris said Hurst’s departure was the result of “lengthy discussions” that resulted in a call for new leadership from board members. The trust fund’s board consists of 11 members with backgrounds in the public realm and private sector enterprises.
Before she left the trust fund, Hurst said Louisville needs about 65,000 more affordable housing units.
A 2015 needs assessment survey administered by the Louisville Metro Community Services found the most pressing issue among responding residents is the need for more affordable housing.
The hiring of McCravy, which was first reported by The Courier-Journal, comes as the city is making a strong push to make more affordable housing available to low income residents.
One such initiative is Mayor Greg Fischer’s near $12 million Louisville CARES initiative to create 1,500 units of affordable housing. .
A Louisville Metro Council is also in a multi-year effort aimed at reworking the city’s 800-page land development code. Advocates are pushing for certain changes to the land code that could provide incentives for developers to construct more affordable housing in Louisville.