[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6560849,"mediaKeyId","3306949-527120484c72eb6f8af212d486c63f64","parentId",3306949,"title","MassDevelopment and consultant begin exploratory work on community land trust for Revere","audioSeconds",360,"startMs",2856000,"endMs",3216000,"viewUrl","/Search/View?dp=1&key=3306949-527120484c72eb6f8af212d486c63f64&start=2856&end=3216","thumbnailUrl","https://assets.pipeline.soar.com/3306949-527120484c72eb6f8af212d486c63f64/thumbnail_2856000.jpg","articleUrl","/articles/6560849/Revere-City/Suffolk-County/Massachusetts/MassDevelopment-and-consultant-begin-exploratory-work-on-community-land-trust-for-Revere","mediaUrl","https://secure.pipeline.soar.com/6560849-c94b759b0e839635697be4eeff82e6ff/orig.mp4?Expires=1771027682&Signature=McT~RtT6OoCd3tXsx05wArly0A2kUrMp9B-u7CADkdTEclOlm~fyclOu9q8ZAVIRYHtouDUYSevJGysxX4ln3o5GookjGK~EGosZY7Ex5Osgvh~v0qs2cq0gmAnr2jV5eYk~92IPfTqTJzSIE2IrAW70nHv04zj~mMtLULBzrz2rWU385a8LCctcAaRhbFGaht~T423cPyNh96qX0CBo~eCDP6MO-9ws8DpyzJ5s4-aflQU67rT1B9wE88Pynz-00GN0zciO7MmWd9OP4QTroe8b9R4Cys1YQVj1tWzAIFz1nvZ83QSnVTipysGWezIGT7BNMRfMJm5ors-d3U~~8w__&Key-Pair-Id=KUT5TJCACFTXG","author","Revere City, MA","date","2025-05-14T00:00:00Z","article","MassDevelopment representatives and a CLT consultant briefed the Revere Affordable Housing Trust on May 14 about an exploratory process to assess whether a community land trust (CLT) could be an effective tool in Revere.

Laura Christopher, representing MassDevelopment’s Transformative Development Initiative (TDI), introduced the agency’s three‑year commitment to the Shirley Avenue neighborhood and described TDI’s technical assistance offer. \"TDI is here to help with sort of any of the strategies that pop out to you guys. But we're really here to talk CLT tonight,\" she said.

Consultant Harry Smith outlined CLT basics and local precedents. Smith said CLTs are community‑based organizations that usually own land and steward it for permanently affordable housing and other uses; homeowners hold the building and a long‑term ground lease controls resale to keep homes affordable. He cited Dudley Street Neighborhood Initiative and Worcester Common Ground as regional examples and noted eight CLTs exist in the Boston area.

Smith described a proposed multi‑step process: convene a planning committee of residents, advocates, city and nonprofit stakeholders; conduct 1‑on‑1 stakeholder interviews; develop an operations plan; and convene a retreat to review recommendations. \"We're not coming in pushing the land trust model,\" Smith said. \"We want to have an open process... to analyze whether the conditions are right.\" Christopher told the board the exploratory scope is expected to wrap this summer and that legal and organizational steps (including 501(c)(3) formation) could follow if stakeholders endorse the model.

Board members discussed potential benefits and tradeoffs. Board member Laurie Manzo noted the CLT’s ability to accept tax‑deductible donations and attract private philanthropic funds; others observed CLTs could help protect naturally occurring affordable housing that is at risk of being redeveloped. Members requested a timeline and noted that if the analysis supports moving forward, creating a legal entity and an operations plan would be necessary steps.

Christopher and Smith asked the Trust to identify stakeholders for interviews and to join a planning committee. The board agreed to continue the conversation and to send contacts to MassDevelopment to support the CLT exploration.","mediaType","Video","parentTitle","Revere City Affordable Housing Trust Fund Meeting (5/14/25)","oneSentenceSummary","MassDevelopment's Transformative Development Initiative (TDI) and consultant Harry Smith presented an exploratory plan to evaluate whether a community land trust (CLT) could help preserve and create affordable homeownership in Revere; the Trust agreed to engage in a planning process over the summer.","taxTitle","Revere City, Suffolk County, Massachusetts","taxId",5660,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6560853,"Revere Trust outlines multiyear budget framework and explores buying deed‑restricted homes to expand ownership",870,100000,970000,"/Search/View?dp=1&key=3306949-527120484c72eb6f8af212d486c63f64&start=100&end=970","https://assets.pipeline.soar.com/3306949-527120484c72eb6f8af212d486c63f64/thumbnail_100000.jpg","/articles/6560853/Revere-City/Suffolk-County/Massachusetts/Revere-Trust-outlines-multiyear-budget-framework-and-explores-buying-deedrestricted-homes-to-expand-ownership","https://secure.pipeline.soar.com/6560853-2cb510f0108d7886bca0f58ba5b0f836/orig.mp4?Expires=1771027682&Signature=eMn~D22jeydlEjbMzijI8wipcgaPlHkBNZZS~6SwoC1H8aU6B1Ht2c24IMhB~ZMS2MP84OgF4XeG1EAn7pmbEfGmT2ahLRfefyJgz~5EEdKn4D1iVz~jXOTrcitLI-HvcqEC4d5xZLvjwQitSxxXiusvwDf9DGH-4BfPZ5ED5MhBzT0XraxoF7K9ijdO6NpweposK~EemwxrFZv2vlRQcKf3oi-4dbaC0vx5Ybm6BXoNyv2UqshOCLDMLjR7R8EqRowE3C8aynCs1eMyXC848W3onVrdZXZM9SQ1ApXYmUXmTki8WAw9BW8pTM51JESZ59vZi7EjqOUaBPvo7dIXYA__&Key-Pair-Id=KUT5TJCACFTXG","At the May 14 meeting the Revere Affordable Housing Trust Fund Board reviewed its current balance and a multiyear budget framework that the board said will guide spending priorities.

Treasurer (supported by Asuta Newton, assistant budget director) reported a current Trust balance of about $905,420.25. The treasurer and chair discussed an assumed annual city allocation (approximately $222,634) and projected interest earnings as part of a planning model. Chair Joe Gravalese said the board should maintain a buffer — he proposed around $350,000 — leaving an estimated roughly $557,000 available to commit this fiscal year under the illustrative scenario.

Gravalese asked the board to prioritize three \"buckets\": subsidized homeownership opportunities for Revere residents (the top priority), accessory dwelling unit (ADU) support such as small loans or grants restricted to below‑market rents, and programs for the extremely low income (0–30% AMI) including people at risk of homelessness.

The board discussed potential tools. Gravalese described a path that could arise when owners of deed‑restricted properties decide to sell. \"The deed specifically spells out that the city actually has right of first refusal,\" he said. He told members that several properties with such deed restrictions — originally created by the Malden Redevelopment Authority and later transferred to Revere — may come on the market; purchase at the deed‑restricted price could allow the Trust or city to re‑sell to income‑eligible Revere residents at the same affordable price, with only limited transaction costs.

Board members asked clarifying questions about monitoring deed‑restricted properties, occupancy status, and displacement risk. One member noted the owner‑occupancy requirement on many of those restrictions, meaning most are occupied by the qualifying owners now; another member noted some deed‑restricted units may be rented out and that monitoring could reveal additional risks or opportunities. The chair said the Trust could assume monitoring responsibility for the subsidized housing inventory or work with city staff to be prepared to exercise right of first refusal when notice is given.

Board members also agreed to convene subcommittees on homeownership and fundraising and to schedule meetings soon to prepare program design (including ADU loan/grant parameters and possible purchase procedures for deed‑restricted homes). The chair said drafts of program details and research into transaction costs will be presented to the subcommittee and returned to the full board for further direction.","The Trust reviewed its fund balance and a multiyear budget framework, prioritizing affordable homeownership, ADU support, and extremely low‑income assistance. Members discussed using right‑of‑first‑refusal clauses on existing deed‑restricted properties as low‑cost homeownership opportunities.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6560858,"Revere Affordable Housing Trust approves $250,000 commitment to 110 Ocean affordable housing project",1303,1496000,2799000,"/Search/View?dp=1&key=3306949-527120484c72eb6f8af212d486c63f64&start=1496&end=2799","https://assets.pipeline.soar.com/3306949-527120484c72eb6f8af212d486c63f64/thumbnail_1496000.jpg","/articles/6560858/Revere-City/Suffolk-County/Massachusetts/Revere-Affordable-Housing-Trust-approves-250000-commitment-to-110-Ocean-affordable-housing-project","https://secure.pipeline.soar.com/6560858-36acf9f6e2576dbd29f0d4962f664481/orig.mp4?Expires=1771027682&Signature=MiCBUi-j7x6HLht-CDmTVWUwtzF1jwteyJP5ofsMMMtrLMPTiEPMFYywE9NuJLCyZ4bLhMi01ldZRwYUhdU5Op-kkwetkVL9eHVX6xqB5s4ZgeKMSgia5mdP~MhAcFpQDpGgURGfBfDaFxnZyLoRcT3PQdwaOTtcGa0jQ4RON-HIXoDlJ1fyKQ91P66tRgF7xh4urqjlngidpwLL1wXH89BvLgNQ9tLEk2NWF-i9yUf8U8U8FetwQEir9uPwuHnpvxaA6qhfKo-jwIrMMSMIoQF0s46~nWeBO8FqPmnVZ~KritUbntDmRAzi1w4zFGwhuvKTk2xNterH0TwXJzaOlQ__&Key-Pair-Id=KUT5TJCACFTXG","The Revere Affordable Housing Trust Fund Board voted May 14 to commit $250,000 toward the 110 Ocean affordable housing redevelopment, a mixed rental project proposed by the neighborhood developers working with North Suffolk Community Services.

The board’s chair, Joe Gravalese, opened the presentation and turned the floor over to Steve Lafreier, director of real estate at the neighborhood developers (TND). \"We're here to talk about 110 Ocean,\" Lafreier said, describing the site as currently owned by North Suffolk Community Services and occupied by eight residents in group living and one resident in an apartment. He told the board the existing building is \"reaching the end of its useful life\" and described a proposed seven‑story, all‑electric, passive‑house designed building with 56 homes.

The developers presented the project program and affordability structure. The proposal calls for eight group‑living units (to serve residents who receive Department of Mental Health services) and 48 family units. Lafreier said half of the 48 family units would be targeted at 30% of area median income (AMI) and the other half at 50% AMI. He also said 12 one‑bedroom units would be set aside through the Facilities Consolidation Fund for DMH referrals and four units would be supported by a Home ARP allocation for qualified populations.

Lafreier presented a sources‑and‑uses summary showing about a $2.5 million gap in the project budget as of the recent application. He said the team had received a positive vote from the North Suburban Home Consortium for $1.1 million of HOME‑ARP funds and had applied for a Department of Energy Resources (DOER) decarbonization grant. \"We're asking the Revere Housing Trust for $250,000, which is about 10% of the gap,\" he said, and added the timing would help the project start construction in late summer or early fall.

Board members discussed flexibility in the timing of payments and the Trust’s ability to split the $250,000 over multiple fiscal years. Lafreier said the loan documents would need to be signed in order to start construction, but added that the developers could accommodate payments later in the construction period. The board chair and other members emphasized the leverage effect of unlocking state and regional funding.

Board member discussion emphasized local preference and the number of Revere residents likely to benefit. The developers noted that up to 70% local preference can be applied to units that go through the standard lottery; the DMH‑referenced units would come through a direct referral process. Board members observed that contributing Trust funds would help leverage other sources and increase the number of deeply affordable units in a neighborhood that otherwise is seeing market‑rate development.

After discussion, the Trust moved to approve the $250,000 commitment to the 110 Ocean project, with the board agreeing to allow the funding to be spread over three fiscal years if necessary. The motion carried; board members present voted in favor.

The developers said they expect to sign financing and move toward an August–September construction start and that construction would continue about two years. They also agreed to provide monthly project updates and to meet with neighbors before construction begins.

The Trust's commitment does not change any other pending funding decisions by state or regional agencies, and the project remains contingent on closing the remaining financing sources identified by the development team.","The Trust voted to commit $250,000, spread over up to three fiscal years, to help close a roughly $2.5 million financing gap for a 56-unit affordable development at 110 Ocean being advanced by neighborhood nonprofit developers (TND) and North Suffolk Community Services.","actionData","errors"]

Article not found

MassDevelopment and consultant begin exploratory work on community land trust for Revere

Revere Trust outlines multiyear budget framework and explores buying deed‑restricted homes to expand ownership

Revere Affordable Housing Trust approves $250,000 commitment to 110 Ocean affordable housing project