Frequently Asked Questions

A housing trust can advance the Town's local affordable housing goals which can be found in the current five-year Housing Production Plan adopted by the Select Board and Redevelopment Board in 2021. By establishing designated funds and creating a board to oversee their use, Tyngsboro can provide a local way to advocate for and facilitate the development of affordable workforce housing. Many current and future residents cannot afford to purchase or rent a home in town because of the high cost of housing; the trust can establish a locally-directed and coordinated process to help meet this need.

A local housing trust allows municipalities to collect funds for affordable housing, separate them from the general fund into a trust fund, and designate and use the funds for local initiatives to create and preserve affordable housing. The sources vary among housing trusts. Under MGL c.44 s.55C sources of funding for trusts include: Community Preservation Act (CPA) funds, inclusionary zoning payments, negotiated developer fees, the Town's general fund, grants, gifts, and private donations. However, any funding from the Town's general fund or from the CPA would require Town Meeting action.

• 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.