The City is currently accepting funding applications through its Affordable Housing Trust Fund Board (AHTFB) to support projects that increase or enhance access to affordable housing within the community.
Eligible applicants include: Governmental subdivisions, community development corporations, local housing authorities, community action agencies, community-based nonprofit housing organizations, other nonprofit organizations, for profit-entities, and private employers.
Applicants must submit a Project Eligibility Form by Feb. 28. These forms are available for download at www.chelseama.gov/AHTFB or in person at Room 101, Chelsea City Hall. Completed forms should be submitted to Bianca Mercado, Community Preservation Manager, at [email protected]. Once an eligibility form is approved, applicants will receive the Full AHTFB Application, due by April 1.
Eligible projects include:
• Financial support for the construction of affordable homes by private developers (non-profit or for-profit)
• Rehabilitation of existing homes to convert to affordable housing
• Increase affordability in new housing development projects
• Develop surplus municipal land or buildings
• Preserve properties with expiring affordability restrictions
• Support rent assistance for low and moderate income households
• Provide down payment, closing cost, interest-rate write down, or other financial assistance to income-qualified homebuyers
• Predevelopment financing for new affordable housing
The AHTFB will deliberate on funding recommendations during a public meeting on May 13. Once the Board has voted, successful applicants will be notified, and grant agreements will be drafted for funding distribution.
For questions or more information, please contact [email protected] or (617) 466-4185.