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| Proposed Projects 2008 | Town Hall Renovation | Mill Pond Rehabilitation | Roadside Paths | Bailey Park | 200 State Road | IAHF Loan Fund | Sepiessa Rental Units | Rental Subsidies |
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Some households with incomes that qualify for affordable housing need additional resources to make down payments on mortgage loans. The IAHF loan fund provides 30-year loans at 1% interest for this purpose, and is seeking funds from all six island towns as well as from private donors. Forty West Tisbury households are eligible for these loans, which may be important for buyers of the new homes proposed at Bailey Park Road and 200 State Road. The CPC recommends a one-time allocation of $50,000 to this revolving fund.
ARTICLE 31: To see if the Town will vote to appropriate from the Community Preservation Community Housing reserve the sum of $10,000, and from the Community Preservation Undesignated reserve the sum of $40,000, to a fund administered by the Island Affordable Housing Fund to support second mortgage loans to qualified buyers of affordable housing. APPROVED.