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Revere trust votes to set aside $30,000 for closing-cost assistance
Summary
The Revere Affordable Housing Trust Fund board voted to reserve $30,000 to create a closing-cost assistance pool, with individual reimbursements capped at $5,000; the chair will draft an application for board ratification next month.
The Revere Affordable Housing Trust Fund board voted at its December meeting to set aside $30,000 toward a new closing-cost assistance program designed to help buyers and income-eligible sellers of restricted affordable units with documented closing expenses.
Chair Joe Ravallesi proposed the fund as an annual pool and said individual applicants would be eligible for up to $5,000 in reimbursed costs. "We could create a pool of, I'd say, $30,000 as an example.…
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