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Worcester trust fund adopts strategic plan with target to prioritize deeply affordable units, adds predevelopment pathway
Summary
The Worcester Municipal Affordable Housing Trust Fund Board of Trustees on June 11 adopted a revised five‑year strategic plan that directs the board to aim to allocate about 35% of its five‑year funding to deeply affordable units and creates a single RFP with a formal predevelopment pathway and scoring priorities for emerging and underrepresented developers.
The Worcester Municipal Affordable Housing Trust Fund Board of Trustees on June 11 adopted a revised five‑year strategic plan that, among other changes, directs the board to aim to allocate approximately 35% of its total five‑year funding to deeply affordable units — defined in the plan as units affordable to households at or below 30% of area median income (AMI).
The plan, presented remotely by consultant Jen Golston, also narrows the application process to a single request for proposals (RFP) that will include tracks for predevelopment, construction, rehabilitation and conversion projects and establishes a scoring framework that will prioritize projects that create or preserve deeply affordable units and favor emerging and historically underrepresented developers.
Golston said the target is aspirational and not a…
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