Metro West CD proposes to purchase multi-family homes for renovating and permanently deed restricting as an effort to provide refurbished affordable rental housing for individuals and families.
The goal of the proposal is to amass enough units to be able to apply for Low Income Housing Tax Credits and other Dept. of Housing and Community Development resources to leverage Waltham’s CPA funds to undertake a significant level of rehabilitation.
The Community Preservation Committee (CPC) will be voting on a proposal to convert 26 apartments on the south side into affordable units. This proposal would cost $2 million and be matched by $10 million in private and state funding. It would NOT be new development but taking existing high rent and/or substandard housing and bringing up to state code, deleading it for use by families, and putting a rent restriction on it going forward. This project would be using Waltham CPC funds that are set aside for affordable housing and have to be used for that purpose.
For more information about the proposal, please read the attached document.
To show your support, please:
1. Attend the Community Preservation Committee Meeting June 6 at 7pm at City Hall
2. Contact your city councillor.