Welcome to the Affordable Housing Trust Fund (AHTF)
The City of Lynn Affordable Housing Trust Fund is a dedicated organization committed to addressing the housing needs of our community. Our mission is to create, maintain, and preserve affordable housing opportunities for Lynn residents. We believe that everyone deserves a safe and stable place to call home.
What We Do:
The City of Lynn approved an ordinance in 2022 creating the Affordable Housing Trust Fund (Trust) to provide for the creation and preservation of affordable housing in Lynn. Creation of the Trust is one of the priority recommendations of Housing Lynn: An Inclusive Plan for Growth, and is a powerful tool for the City to create and preserve affordable housing consistent with the goals of the Housing Lynn Plan.
The AHTF plays a vital role in supporting affordable housing initiatives in Lynn by:
- Funding Affordable Housing Projects: We provide financial support to developers, non-profits, and community organizations working to create and preserve affordable housing options in Lynn. The AHTF has been initially funded through American Rescue Plan Act (ARPA) funding of $3 million and will be funded through in-lieu fees collected through the City of Lynn’s inclusionary zoning ordinance (Section 24 of the City of Lynn Zone Ordinance).
- Community Partnerships: We collaborate with other housing organizations, local government agencies, and nonprofits to maximize our impact and ensure that affordable housing remains a priority.
- Educational Outreach: We engage in educational and awareness campaigns to inform Lynn residents about affordable housing opportunities, resources, and assistance programs.
The table below articulates the current income limits by area median income (AMI), provided by the U.S. Department of Housing and Development (HUD), for the Boston-Cambridge-Quincy Metropolitan Statistical Area that the AHTF intends to support through
funding:
|
FY 2024 Income Limit Area
|
Median Family Income
|
FY 2023 Income Limit Category
|
Persons in Family |
| 1 |
2 |
3 |
4 |
5 |
|
Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
|
$148,900
|
Very Low (50%) Income Limits ($) |
57,100 |
63,300 |
73,450 |
81,600 |
88,150 |
| Extremely Low Income Limits ($)* |
34,300 |
39,200 |
44,100 |
48,950 |
52,500 |
| Low (80%) Income Limits ($) |
91,200 |
104,200 |
117,250 |
130,250 |
140,700 |
Language Accessibility:
We are committed to inclusivity. All materials for Affordable Housing Trust Fund meetings are available in other languages upon request. If you wish to participate in the meetings and require a translator, please email our Housing Program Manager at [email protected], no later than 3 business days before the meeting. We want to ensure that language is not a barrier to community engagement.
Todos los materiales de las reuniones del Fondo Fiduciario de Vivienda Asequible (Affordable Housing Trust Fund) están disponibles en otros idiomas con solicitud previa. Si usted desea participar en las reuniones y necesita un intérprete, favor envíenos un correo electrónico a [email protected].
Get Involved:
We welcome community involvement and support. If you have ideas or want to stay updated on our progress, please reach out to us at [email protected].
Thank you for visiting the City of Lynn Affordable Housing Trust Fund page. Together, we can make affordable housing a reality for everyone in our community.