Lynn Affordable Housing Trust Fund (AHTF) Seeks Projects
LYNN — The City of Lynn’s Affordable Housing Trust Fund (AHTF) is accepting applications for funding through a Notice of Funding Availability (NOFA) released on May 3, 2023. Through this NOFA, the City is making up to $3 million available to assist with the planning and development of affordable housing in Lynn.
Applicants may also apply for funding for site acquisition to be used for future affordable housing development. Additionally, applicants for the NOFA must submit projects that increase housing opportunities for low-and-moderate-income households.
“AHTF is one of the programs that many residents of Lynn have been waiting for a very long time. I’m very happy that it finally happened. This program will give the opportunity for the city to help our residents of low-moderate income who wants to live here. This allows them to afford to live in the city of their choice,” said Councilor Hong Net.
“Our administration is committed to advancing affordable housing efforts and ensuring our community has access to equitable, quality affordable housing opportunities,” said Mayor Jared C. Nicholson. “This program will provide much-needed support to organizations that share our goals of working to ensure our residents are able to remain in our community.”
The Trust Fund will accept applications on a rolling basis and will evaluate potential projects using a scoring rubric adopted by members. Scores, out of a potential 100, will be judged on several criteria, including Development Team Capacity, Financial Feasibility, Affordability Objectives, Alignment with Housing Production Plan, and Community Engagement.
The members of the Affordable Housing Trust Fund are Mayor Nicholson, Aaron Clausen, Cinda Danh, Jonathon Feinberg, Layheab Ly, Jamie McGrath, and Sarai Zelada.
This NOFA is directed to organizations, both non-profit and for-profit, and individuals that are interested in and capable of providing affordable housing to Lynn residents within the City.
“The release of the NOFA is a historic moment for the City of Lynn. As you can see from the criteria within the NOFA, the Board is committed to ensuring this funding goes to projects that promote more profound levels of affordability,” said Jamie McGrath, a member of the AHTF. “From a personal perspective, having formerly been in a situation as a single mom where I chose to live with family as I couldn’t afford rent, I am grateful that our City is addressing this need.”
“The funding made available in this round provides the City with an important boost to the creation of new affordable housing opportunities in Lynn.” said Aaron Clausen, Lynn’s Principal Planner. “This NOFA prioritizes projects that are aligned with the Housing Lynn plan and can support projects to make our community stronger.”
For more information about the program and to apply, please visit LynnInCommon.com or contact aclausen@lynnma.gov.
