- Provide financial support for the construction of affordable workforce homes by private developers (non-profit or for- profit);
- Rehabilitate existing homes and apartments to convert to affordable workforce housing (rental or resale);
- Increase affordability in existing and future housing developments by providing funds to decrease debt and decrease the need for high rents;
- Develop surplus municipal property for affordable workforce housing;
- Preserve properties faced with expiring affordability restrictions in partnership with the owner or a new owner;
- Create programs to assist low- and moderate-income homebuyers;
- Create programs to help low- and moderate-income families make health and safety repairs; and
- Educate and advocate to advance affordable workforce housing initiatives.
Further, it is often the case when developing affordable workforce housing that local funds are the first committed funds to a project. A Trust can serve as a vehicle to aggregate existing resources as well as leverage new public and private resources to support the creation and preservation of affordable units by entities such as the Tyngsboro Housing Authority, or other non-profits.
The Massachusetts Housing Partnership regularly collects and disseminates information about Municipal Affordable Housing Trusts through their Community Assistance Team. The most recent guidebook provides additional background and information about Trusts, including examples of Trusts in practice.