Rockport Affordable Housing Trust Fund

Overview

The Commonwealth of Massachusetts housing trust statute (M.G.L. c.44 section 55C) establishes the formal purpose of trusts, which is: ... to provide for the creation and preservation of affordable housing in municipalities for the benefit of low and moderate-income households.

At its April 2017 Annual Town Meeting, Rockport adopted this statute and created the Affordable Housing Trust Fund by-law.

Affordable Housing Trust Fund

There shall be a Rockport Affordable Housing Trust, the purpose of which shall be to provide for the preservation and creation of affordable housing in the Town of Rockport for the benefit of low and moderate-income households and for the funding of community housing as defined in and in accordance with the provisions of Massachusetts General Laws, Chapter 44B ("Chapter 44B"). The Trust shall be governed by a Board of Trustees in accordance with General Laws Chapter 44, Section 55C ("Section 55C"), as revised from time to time, and the authority granted by Town Meeting.

The Trust shall be called the "Rockport Affordable Housing Trust", herein referred to as the Trust.