|
Housing Development OverviewOur Impact on Affordable Housing DevelopmentThe Community Development Partnership has developed or assisted in the development of 67 units of affordable housing throughout the 8 towns of the Lower Cape. Our development efforts focus on purchasing and preserving existing rental housing units and rehabilitating them as needed, as well as developing new construction housing for use as rentals or homeownership. In addition, the CDP often serves as a consultant, as agents of Municipal and non-profit project sponsors, or in joint ventures, such as co-developer with other non-profit or for-profit developers. How the Process WorksWe secure affordable housing development opportunities in a variety of ways. These include working with local municipalities and housing authorities, participating in competitive bid processes, building relationships with private land and property owners, partnering with other developers and development team members, and through the private market. Once a development opportunity is identified, it becomes critical to secure the necessary funding. The Community Development Partnership’s funding partners include the United States Department of Agriculture Rural Housing Services, the MA Department of Housing and Community Development (DHCD) HOME Program and Housing Development Support Program, the Community Economic Development Assistance Corporation (CEDAC), the Massachusetts Housing Partnership (MHP), MassHousing, the Barnstable County HOME Consortium, the Cape Light Compact, local Community Preservation Act funds, private banking institutions, and private local donors. Upon completion of a development project, the CDP either continues to own and manage the housing, relinquishes the management to another entity (such as a local housing authority), or sells the housing to low and moderate-income residents. Who Can Take Advantage of Affordable HousingOur primary goal for housing development is to increase the availability of attractive, quality affordable housing units for low to moderate income families from Harwich to Provincetown. Most housing opportunities are made available to households earning under 80% of the area median income, with income levels lower than that defined by a particular project’s funding source. Purchase prices and rents for affordable units fall within specific guidelines, and generally aim to cost no more than 30% of the target household’s income. Last updated: January 19, 2012 |
|




