LYNN — The city has announced that the Affordable Housing Trust Fund (AHTF) is accepting applications from affordable housing projects to receive funding through a notice of funding availability (NOFA). Up to $3 million is being made available and will go toward assisting planning and development, according to a press release from the city.
“The funding made available in this round provides the city with an important boost to the creation of new affordable housing opportunities in Lynn.” Lynn Principal Planner Aaron Clausen. “This NOFA prioritizes projects that are aligned with the Housing Lynn plan and can support projects to make our community stronger.”
Funding applications for site acquisition for future affordable housing developments are also being accepted, the press release said. All applications must be for projects that increase housing opportunities for low-and-moderate-income households.
“Our administration is committed to advancing affordable housing efforts and ensuring our community has access to equitable, quality affordable housing opportunities,” Mayor Jared Nicholson said. “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.”
Applications are being accepted on a rolling basis and will be evaluated through a scoring rubric, the press release said. The scores will be judged on development team capacity, financial feasibility, affordability objectives, alignment with the Housing Production Plan, and community engagement.
According to the press release, the funding is directed to both nonprofit and for-profit organizations, as well as individuals that want and are able to provide affordable housing to Lynn residents.
“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,” AHTF Member Jamie McGrath said. “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.”
