By Journal Staff
The Board of Trustees of the Revere Affordable Housing Trust Fund (AHTF) held its regular monthly meeting last Wednesday evening, January 8, via Zoom. Chair Joe Gravelese, Vice-Chair Claire Inzerillo, and Treasurer Anayo Osueke were on hand for the session, along with fellow board members Lori Manzo, Dean Harris, Matthew Wolfer, and Laila Pietri. In addition, City Planner Tom Skwierawski was in attendance.
Osueke presented the treasurer’s report. He said the AHTF has a balance in its account of $668,575.87, which is an increase from the balance of $663,530.78 from the last report of two months ago, reflecting the interest that has been earned in the AHTF’s account.
Gravelese provided an update on the first-time homebuyer program that will provide $10,000 to five eligible, first-time Revere homebuyers to be used toward their down payments. The $50,000 of funding came from a $25,000 grant from the state, to which the ATHF contributed a matching $25,000.
He said some applicants have been deemed as qualified, but are still waiting to finalize their purchase and sales agreements, at which time the funds will be released.
Skwierawski provided updates on some city initiatives that fall within the ambit of the AHTF’s realm. He said a proposed Housing Production Plan (HPP) was presented to the City Council in November. “This will provide the city with a toolbox of different strategies that we might want to employ to build the right kind of housing in the right locations across the income spectrums,” said Skwierwaski. “It was well-received by the City Council.”
He noted that the Planning Board unanimously voted to adopt the proposed HPP and he is hopeful that the City Council will follow suit in the new year.
Skwierawski also touched on the proposal for two Housing Development Incentive Programs (HDIP) in the city. The purpose of an HDIP is to spur development in Gateway Cities by providing tax incentives for market-rate housing. An HDIP also can be used as a means of developing affordable housing.
The two potential HDIPs are the Shirley Ave.-Green St. area (this HDIP would include an affordable housing component at the former Lee Trailer Park) and the Suffolk Downs area.
Gravalese and Skwierawski also briefly discussed the RFP process for the sale and disposition of city-owned tax-title properties, with an eye either to developing those properties for affordable housing or selling them at market rate with the proceeds going to the AHTF for affordable housing initiatives.
Harris discussed the ongoing modernization programs for properties of the Revere Housing Authority (for which he serves as Executive Director) at Coolidge St.-Constitution Ave. and for the development of the 40 acres of land in that area.
He also said that the RHA is seeking funding from the state to construct a high rise of five-to-six stories at 110-112 Shirley Ave. (which presently are a pair of three-family buildings) that will contain approximately 40 units that could be available to Section 8 voucher holders.
Gravalese also discussed future planning for the AHTF, including topics such as a Community Land Trust, educational sessions, the next affordable homeownership projects, and possible fundraising opportunities.
The next meeting of the AHTF is scheduled for Wednesday, February 12, at 6:30.
