Our ProgramsRental Assistance Program Administered by the Dukes County Regional Housing Authority (DCRHA), Rental Assistance has kept hundreds of families from being forced to leave the Island by providing modest subsidies to reduce their monthly rental payment. Landlords get a reliable tenant, Islanders get a safe, decent, year-round home, and another family doesn't have to endure the "Vineyard Shuffle" - the twice-yearly move families make as the summer rental season begins. IAHF Grantee 2006-2007
Dukes County Regional Housing Authority - $299,395.53 For Rental Assistance Program and Executive Director funding IAHF Grantee 2005-2007
Affordable Housing Recipients - $27,269 Closing Cost Grants Land Lease The Island Housing Trust (IHT) develops and manages land lease projects that are funded by the IAHF. The Island Housing Trust is modeled after Community Land Trusts across the country whose approach to creating permanently affordable housing involves selling homes to income-qualified homebuyers and ground leasing the land beneath the homes for a nominal fee through a long-term renewable ground lease. The IHT continues to increase the amount of affordable housing projects is does each year. IAHF Grantee 2006-2007 Island Housing Trust- $194,098 For Construction Assistance Island Housing Trust - $74,098 For Construction Assistance IAHF Grantee 2005-2007 Island Housing Trust - $350,162 For Acquisition and Development of 150 State Road IAHF GRANTEE 2007-2008 Island Housing Trust -- $800,000 For Acquisition and Development of Jenney Way Helm Home Loan The Helm Home Loan, formerly the Helm Foundation Second Mortgage Program, is administered through the Island Affordable Housing Fund and provides second mortgage loans to homeowners who are ground leasing land from the Island Housing Trust. The program provides homeowners a 30-year fixed-rate second mortgage at an interest rate of 1% per year for an amount not to exceed $25,000. The purpose of this loan is to bridge the gap between what the homeowner has in savings and the amount that he or she qualifies to borrow. As of November 2007, this program has been the catalyst for nine families gaining access to affordable home ownership, and in just two years has made over $114,000 in second mortgages loans, most recently $36,210 for our 150 State Road project. We continue to raise money in order to keep this vital program alive now that the Helm Foundation, our original generous benefactors, has permanently closed their organization. We have asked all the Island towns to participate through their Community Preservation Act funds. We look to match those funds dollar-for-dollar. IAHF Grantee 2005-2007 Affordable Housing Recipients - $114,774