East Hampton Town on Monday officially began accepting applications and proposals for funding from the Community Housing Fund to help create more affordable housing options in the town.
The town is accepting applications from individuals seeking financial assistance with down payments for the purchase of their first home. Eligible recipients can be awarded up to $30,000 in interest-free loans toward a down payment, which will have no monthly payment requirement. The loans are repayable only upon future sale of the home.
Applications will be accepted continually through the end of 2024, and funding will be awarded on a first-come, first-served basis while funds are available. All recipients will be graded and selected by an advisory committee and the Town Board.
The town also is accepting proposals from businesses, nonprofits, municipalities and individuals for funding support for projects that will “result in the an increase in or improvement to community housing opportunities within East Hampton.” The purchase of land or existing homes, the construction of new homes or rental units or maintenance of existing rental units all will be considered.
Proposals can be submitted through the East Hampton Town Department of Housing and Community Development page at ehamptonny.gov.
Michael Wright on Jun 5, 2024