Falmouth Affordable Housing Fund

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Trustees: Falmouth Board of Selectmen
Source of Funds: Appropriations from the Community Preservation Fund to date. The Fund may also accept donations and grants.

The Falmouth Affordable Housing Fund (FAHF) was created in 2011 through special legislation at the instigation of the Community Preservation Committee (Chapter 29 of the Acts of 2011) to provide funds for affordable housing without requiring developers to wait for November or April Town Meetings. The Board of Selectmen are its trustees, and funding approval depends on a positive recommendation by the Community Preservation Committee. Awards are made for the “promotion, expansion, and retention of the affordable housing inventory in Falmouth.”

From 2012-2024, the CP Fund contributed a total of $12.7 million to the FAHF through 11 appropriations from CP Fund to FAHF: 2012 for $839,353; 2013 for $14,902; 2016 for $300,000; 2017 for $300,000; 2018 for $770,000; 2019 for $425,000; 2020 for $1,357,518; 2021 for $1,833,000; 2022 for $1,860,000; 2023 for $2,500,000; 2024 for $2,000,000. In November 2021, Town Meeting approved a $4.0 million allocation from free cash to the FAHF. A total of approximately $12 million being awarded to the following entities:

  • Falmouth Housing Trust, 156 Club Valley Drive in 2023 - $125,000

  • Excel 464 Main Street LLC, 464 Main Street in 2024 - $1,875,000

  • Falmouth Housing Trust, 54 Sam Turner Road in 2023 - $500,000

  • Falmouth Affordable Housing Committee, Housing Crisis Video in 2023 - $10,000

  • Falmouth Affordable Housing Committee, Housing Production Plan Update in 2023 - $100,000

  • Falmouth Housing Trust, 33 Pheasant Lane in 2022 - $32,500

  • Falmouth Housing Corporation, Scranton & Main in 2022 - $2,500,000

  • Falmouth Housing Trust, 33 Pheasant Lane in 2022 - $100,000

  • Falmouth Housing Trust, 51 Esker Place in 2022 - $100,000

  • Falmouth Housing Corporation for 24 Scranton Avenue & 763 Main Street in 2021 - $2,300,000

  • Falmouth Housing Corporation for Gifford Workforce Housing Phase II in 2020 - $650,000

  • Northstar Place LLC, John DeSangro for Brick Kiln Place in 2019 - $975,000

  • Megansett Crossing, LLC for Megansett Crossing Apartments in 2018- $650,000

  • Falmouth Housing Trust for 72 Deer Pond Rd. in 2018 - $65,000

  • Falmouth Housing Corporation for 587 Gifford Street Workforce Housing in 2018 - $650,000

  • In November 2016, Town Meeting appropriate $300,000 from the CPFund to the FAHF to cover 80 percent of the salary of a new position for the Town, that of Housing Coordinator, for three years. The coordinator will pursue multiple avenues to expanding and maintaining affordability of Falmouth community housing for workforce families and individuals (earning as much as 120 percent of the Area Median Income) as well as for low- and moderate-income families, older people on fixed incomes, and disabled individuals.

  • The Resource Inc. in 2012 for rehabilitation of three apartments in a house on Shore Street in Falmouth - $183,000

  • Town of Falmouth in 2013 for Housing Demand Study - $25,625

  • Falmouth Housing Trust for construction in 2013 of three single-family homes on St. Marks Road in East Falmouth - $120,000

  • Falmouth Housing Corporation in 2015 for construction of eleven apartments in an adaptive reuse and new construction on Woods Hole Road (Notantico Woods) - $540,000

  • Falmouth Housing Trust in 2015 for construction of four apartments in an adaptive re-use of Odd Fellows Hall on Chancery Lane in Falmouth - $208,000

Previous versions of the Falmouth Affordable Housing Fund, the Housing Retention Fund and the Housing Development Fund, both of which received their revenues from the Community Preservation Fund, supported the following affordable housing projects for awards totaling $1 million:

  • Falmouth Housing Corporation in 2006 for site preparation for the adaptive reuse of three single-family homes, on Ward and Chester streets in North Falmouth and on Cloverfield Way in East Falmouth - $75,000

  • Falmouth Housing Corporation in 2007 for the construction of 39 apartments in the complex known as Schoolhouse Green on Teaticket Highway in East Falmouth - $700,000

  • Falmouth Housing Trust in 2008 for an appraisal of a home on Sandwich Road for feasibility of its adaptation to affordable housing - $700.00

  • Falmouth Housing Corporation in 2009 for the buy-down of three homes on Sam Turner Road and Esker Place - $137,000

  • Falmouth Housing Corporation in 2009 for buy-down of three homes on Longshank Circle - $89,000

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