Affordable Housing Trust Fund Meeting 9/9/26

The Affordable Housing Trust Fund Board held its monthly meeting on September 9, 2026, focusing primarily on updates and new initiatives related to affordable housing programs in Revere. Key procurement-related discussions included the resale process for affordable homeownership units, where the board approved waiving the 1.5% administrative fee and offering up to $15,000 in closing cost assistance to buyers, along with automatic eligibility for a $10,000 down payment assistance program. The board also finalized the launch plan for the affordable housing buy-down program, coordinating outreach efforts with banks, realtors, and community organizations, with applications opening November 4, 2026. Additionally, the Senior Citizen Home Repairs Program was announced to open for applications on September 15, 2026, offering up to $6,000 in assistance for safety and accessibility home repairs, with authorization granted to fund two previously approved but uncompleted projects totaling approximately $9,100. The board discussed ongoing awards for the Accessory Dwelling Unit (ADU) loan program and upcoming rezoning efforts for a housing authority property to increase affordable housing units. Several motions related to funding approvals and program timelines were passed unanimously, reflecting active management of affordable housing resources and procurement activities.