Monitoring , Collaboration & Counseling
The Trust provides programs, services, advocacy, assistance, and related activities to promote and support the creation and preservation of affordable housing for the Town of Falmouth.
Other interests and activities the Trust engages in are economic development, outreach, education, and real estate development as it relates to affordable housing for our low- to moderate-income constituency.
The Falmouth Housing Trust screens applicants and maintains a ready-to-buy list for when a deed-restricted property becomes available for sale or resale, and acts as monitoring agent for 40B properties located within the Town of Falmouth.
The Trust currently serves as the Monitoring Agent for market-rate condominium projects, built as a traditional 40B by a private developer, with 75 percent of the units being sold at market rate with no affordability deed-restrictions. The remaining 25 percent of the units are deed restricted as affordable into perpetuity.
The Falmouth Housing Trust files the final cost certification on each project and confirms through an independent audit that the developer’s profits were within the Commonwealth’s allotted 20 percent by state law. FHT verifies annually that all affordable units are owner occupied, that owners do not profit through their ownership, and no liens or loans have been recorded against the properties that could jeopardize their affordability. FHT handles all re-sales of affordable units and qualifies buyers for the transaction and assists them in the process.