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What funds can be used in a local housing trust?

The sources vary among housing trusts.  Under MGL c.44 s.55C sources of funding for trusts include:  Community Preservation Act funds, inclusionary zoning payments, negotiated developer fees, the town’s general fund, grants, gifts, and private donations. However, any funding from the Town’s general fund would require a Town Meeting action.  In addition the Town of Danvers receives approximately $36,000 a year through the HOME Investment Partnership Program (HOME) which could also be managed by the Housing Trust.  It is important to note that these HOME funds are reallocated if not committed within a one year period.

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