Trust proposes $150,000 open call for housing projects prioritizing 80% AMI and local preference

The Revere Affordable Housing Trust put forward a draft open call for housing proposals and said it would make $150,000 available in the first funding round. Staff said the call would require applicants to create or preserve housing units affordable at 80% of area median income or lower and that the trust would apply scoring weight to proposals that prioritize existing Revere residents, leverage other funding sources and serve households at or below 60% of AMI.

“All proposals have to create and maintain housing units affordable to those at 80% AMI or less,” a staff presenter said while displaying the draft call. The presenter described flexibility in awards: the trust could fund multiple projects until funds are exhausted or concentrate the full $150,000 on a single project if members agree.

Staff discussed evaluation priorities: preferential consideration to projects that maximize local preference slots (to benefit current Revere residents where state law permits), projects that can leverage additional public or private funding to multiply impact, and projects that target deeper affordability (<=60% AMI). The presenter said the call would have a submission deadline (staff suggested roughly two months) and a public presentation and deliberation schedule: applicants would present at a trust meeting after submission and the trust would deliberate and vote at a subsequent meeting.

The presenter said the call would replace ad hoc requests the trust has received and create a transparent process for evaluating proposals. Staff asked for member feedback and said they would return with a formal application and timeline for approval at the next meeting.

No funding commitments were made at this meeting; the call remains a draft and staff will present a formal application and timeline for a vote.