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FinCom trims Housing Trust contribution and questions funding sources for affordable housing programs
Summary
The committee reduced the Municipal/Affordable Housing Trust contribution from $35,000 to $30,000 and discussed how the Trust is funded via Budget, CPC, and separate articles, noting planned draws for TERAP subsidies and staff support.
The FinCom recommended trimming the Municipal/Affordable Housing Trust contribution from $35,000 to $30,000 and sought clarification about overlapping funding sources.
Minutes indicate this year's expected draws from the Trust would include the Affordable Housing Committee administrative assistant salary, pilot subsidies for the Tisbury Expanded Rental Assistance Program (TERAP), and possibly contributions to the Dukes County Regional Housing Authority. Committee members expressed confusion that the Trust appears to receive funds from multiple sources — the budget, Community Preservation funds, and separate warrant articles — and requested research to clarify funding flows.
The committee recorded the reduction in the Trust contribution and asked staff to detail funding sources prior to finalizing recommendations for Annual Town Meeting.
