Why is the creation of a local housing trust a benefit to the community?

A housing trust can advance the Town’s local housing goals and help to ensure that we continue to have a minimum of 10% of our housing stock certified as affordable.  By establishing designated funds and creating a board to oversee their use, Danvers provides a local way to advocate for, and facilitate the development of, affordable housing.  Using such a tool represents an alternative to the creation of affordable units under the State’s Comprehensive Permit statute, Chapter 40B.  As we are aware, many of our children, Town employees and current Danvers’ residents cannot afford to purchase a home in town because of the high cost of housing; the trust assists Danvers establish a locally-directed process to help meet this need.

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