The Affordable Housing Trust Fund is Accepting Grant Applications
by Ellie Russell
July 1, 2010, pg 5

The Affordable Housing Trust Fund (AHTF) August 31 deadline for grant applications is fast approaching. These grants provide funding for the construction of affordable housing units and for feasibility studies for construction of affordable housing in Charlotte.

Grants for feasibility studies will be made for 90% of the costs up to $5,000. Grants for construction projects will be made for up to $10,000 per affordable housing unit, with a maximum of $30,000 allowed per construction project. A one-to-one match is required for construction projects. Units funded by grants must remain perpetually affordable and must rent at a rate considered affordable for a household earning 50% or less of the median income for Chittenden County. According to the latest income data, this means a rental rate of $793 per month for a three-person household earning $31,715 per year.
AHTF grants are awarded annually. The deadline for applications this year is August 31. Applicants will be notified by the AHTF committee by September 30 if their application has been selected for further review. At that time selected applicants will be requested to provide more detailed information regarding their projects. The deadline for the new information is October 31. The Trust Fund Committee will review these completed applications in November and will make recommendations to the Selectboard by December 15; applicants will be advised of these recommendations at that time. The Selectboard will make final decisions by January 31, 2011.

Priority for funding will go to requests for projects that best meet the following criteria:
• Priority given to Charlotte residents
• Priority given to rental units over owner-occupied units
• Priority given to rehab over new construction
• Diversity of total projects in location and size
• Most effective use of grant money (number of units, kind of affordable housing created, proposed rental rate vs. size of grant requested)
• Projects with lowest rental rates
• Rental with two bedrooms or less
The AHTF grant committee consists of Allan Jordan, Carrie Spear, Ellie Russell and Ted Montgomery. Please feel free to contact any member of the committee or Dean Bloch in the Town Office for further information. Application forms are available in the Town Office and on the Town of Charlotte website at charlottevt.org.

AHTF Committee Seeks New Member
The Affordable Housing Trust Fund Committee needs a replacement for John Owen, who resigned when appointed to the Selectboard. John brought to the committee long experience in and understanding of affordable housing issues. He leaves a big hole to fill.

A Charlotter with experience in affordable housing concerns would be a welcome asset to the committee, as would anyone who is eager to become involved. The committee accepts and screens applications for the Affordable Housing Trust Fund grants and makes recommendations to the Selectboard for the awarding of grants. The 2010-2011 grant cycle begins on September 1; this is a good time to become a part of the action. This is an opportunity to become involved in an important program that does not involve an excessive time commitment. Feel free to contact any member of the committee with questions. If you would like to apply to join the committee, please contact Dean Bloch in the Town Office. Appointments to the committee are made by the Selectboard.