An Act establishing a housing trust fund in the town of Chatham

HD 4878 establishes the Chatham Housing Trust to create and preserve affordable and attainable housing for year-round Chatham residents. The trust fund, separate from other town funds, will receive grants, donations, and rental income to directly finance housing projects meeting income criteria (affordable: up to 100% of area median income; attainable: up to 200%). A 7-member board, appointed by the select board with community representation, will manage the fund and make spending decisions without requiring new town meeting approvals each time. The trust can accept donations, buy/sell property, and use funds specifically for housing projects serving low-to-moderate income households. This bill directly affects Chatham residents seeking housing options and provides a dedicated funding mechanism for local housing initiatives.