I am totally supportive of establishing a local housing trust fund.
I have been a member of the Housing and Redevelopment Authority since 2014. I know this community. I understand how difficult it is to secure low cost rental or purchase moderate income housing here.
I do have a concern about the inference that the city (HRA) would hold the funds. HRA is not staffed to educate or promote this fund. One of my HRA colleagues said it is "unnatural" to write a check to the city for something other than property taxes or the utility bill. Strong consideration should be given to working with a non-profit to serve as fiscal agent. Northfield Shares immediately comes to mind. They could educate, market and invest funds for its highest return. And charitably-minded community members would feel comfortable in making a donation dedicated to affordable housing.
I ask that you explore an alternative "keeper of the trust fund" with the city/HRA remaining actively involved in decision-making.