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Affordable Homeownership Program Review

The Housing Division completed a review of the terms of the City's affordable homeownership programs, with a focus on how affordable homes increase in value and policies on inheritance. Spanning almost two years, the review included engagement with the Affordable Housing Trust; the City Council and Housing Committee; current owners of affordable homes; and applicants waiting for affordable homeownership opportunities. 

For questions or additional information, please contact Anna Dolmatch, Senior Manager for Homeownership, at adolmatch@cambridgema.gov or 617-349-4645.

In January 2024, the Cambridge Affordable Housing Trust voted to adopt a set of changes to the affordable homeownership program terms. These include an updated formula for affordable value and a path to create expanded inheritance options.

Information on the Trust's vote and the changes can be found in the following:

Presentation on Recommended Changes - meeting of the Affordable Housing Trust January 11, 2024

Minutes of the January 11, 2024 meeting

Memo for Vote - meeting of the Affordable Housing Trust January 25, 2024

Minutes of the January 25, 2024 meeting including final vote

The Housing Division is working on implementation of these changes for new homebuyers and development an option for current owners of affordable homes to adopt updated terms if they choose. The next step is development of documents that incorporate the changes. This is anticpated to take several months.