THE REVERE ADVOCATE – FRIDAY, MAY 28, 2021 Page 3 City Council moves forward with affordable housing initiative By Adam Swift T he establishment of an affordable housing trust fund in Revere is quickly gaining momentum. Last Monday night, the City Council unanimously approved the Massachusetts General Law that will allow for the establishment of a trust fund specifi cally set aside to establish and promote aff ordable home ownership and rental opportunities. Next on the docket is a public hearing at a future City Council meeting on the specifi c establishment for an aff ordable housing trust fund in the city. The aff ordable trust fund act being proposed by Mayor Brian Arrigo calls for a nine-member volunteer Board of Trustees overseeing the trust fund, with a minimum of fi ve of the members being Revere residents. To seed the funding of the trust fund, the draft proposal is calling for up to 10 percent of the city’s certifi ed free cash amount be transferred to the fund. “I feel a tremendous amount of pride in presenting this to you tonight in establishing an affordable housing trust fund for our city,” Arrigo told the council. “This fund will be a signifi cant tool for us to promote the production of sorely needed aff ord[it] is with a great sense of pride that I bring this to the council.” The aff ordable housing trust fund will be the fi rst big step in tackling housing issues in Revere, Arrigo said. “I look forward to working with the council over the next few years to make sure the strategies we put in place continue to make Revere an affordable place to live, and I look forward to additional conversation around this,” said Arrigo. Councillor-at-Large George BRIAN ARRIGO Mayor able housing in our city.” Arrigo thanked the council and all the residents of the city who have taken part in aff ordable housing trust workshops and sessions in the recent past to help craft the new ordinance. The mayor pointed to the recent interest generated by the aff ordable units at 571 Revere St. as an indication of the desire and need for aff ordable units in the city. “Nearly 400 of our own residents were looking for housing at 571 Revere St.,” said Arrigo. “Knowing the demand is really there and thinking about the strategies that we can deploy, All in the Family Rotondo said the need for an aff ordable housing trust fund and increased aff ordable housing opportunities for residents is something he has been advocating for years. “For Mayor Arrigo to do this is a blessing for our community,” said Rotondo. “We need a trust fund for aff ordable housing for the people of Revere, and I look forward to working with the mayor on this particular eff ort.” In other communities, aff ordable trust funds have been used to help purchase existing buildings that have been renovated into aff ordable units by developers, or have been used to help maintain housing units that are currently aff ordable but may be facing the end of their aff ordable deed restrictions. “Very broadly, an aff ordable housing trust can be focusing on your local aff ordable housing needs and can work to support local control of housing initiatives,” said Shelly Goehring, a senior program manager from the Massachusetts Housing Partnership, at a public forum earlier this month. “The trust is set up to engage in the real estate market; it could purchase property and it could also sell property. 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