Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Revere board discusses closing-cost support and waiving resale fees for affordable condos
Summary
The board proposed a pilot closing-cost assistance pool (initially $4,000) and agreed to waive a 1.5% administrative fee for owners who work with the trust to resell affordable units; members asked staff to research appropriate pool size and per-transaction caps and tabled the decision for further study.
At the Nov. 12 meeting the City of Revere Affordable Housing Trust Fund Board discussed measures intended to help preserve affordability when restricted condominium units are resold.
Chair Joe Gravalese said two affordable units at 291 Revere Street (control transferred from the Malden Redevelopment Authority) and units at 133 Salem will be advertised to prospective buyers. He proposed waiving the standard 1.5% administrative fee for sellers who…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
