WORCESTER – The City of Worcester Affordable Trust Fund is open for applicants and the city’s Executive Office of Economic Development has released its request for development proposals for eligible projects.
The trust fund provides financial support for the development of affordable rental and first-time homeownership housing units in Worcester.
Projects eligible for support from the fund must create new construction or substantial rehabilitation that brings new affordable housing units to market. The fund may award up to $150,000 per eligible unit, or up to 25% of total development costs, whichever is less.
A nine-member board of trustees oversees the fund and will select awardees based on a set scoring rubric.
The trust fund was established by a city ordinance in 2021 and funded by $15 million in American Rescue Plan Act (ARPA) funding.
Interested applicants can attend a workshop at City Hall on Thursday, Oct. 13, at 5:30 PM, in the Levi Lincoln room.
More information on the fund is available here.
