North Adams Establishes Affordable Housing Trust
The North Adams City Council has unanimously voted to create an affordable housing trust, set to take effect on January 1, 2026.
According to Councilor Andrew Fitch, a minimum of $150,000 in the trust is required to launch a "meaningful program".
What is an Affordable Housing Trust?
An affordable housing trust is a local fund, typically managed by a city or town, dedicated to maintaining and building housing for low- to moderate-income residents.
- It is often funded using existing city or town funds from fees or grants.
- Some cities also secure funding through a local tax.
The trust will help fund and maintain housing for low- to moderate-income residents.
Author's summary: North Adams City Council establishes affordable housing trust.