Posted on June 19, 2018 by Greg MacKinnon
The Foundation for Norfolk Living has announced new affordable housing options. Foundation members, architects, local and state leaders, and supportive members of the Norfolk community all gathered to celebrate today’s ribbon cutting at 2/4 Shepard Road. These new affordable housing units are simply stunning and are sure to be the perfect home for some hard-working individuals or even a young family. I’m so proud to see that our Northwest Corner is trending towards even more affordable housing options.
According to the Foundation for Norforlk Living, the mission of the foundation is to create opportunities for housing in Norfolk that will be affordable to a diverse community including people and families of modest means. The terms and conditions of the foundation’s grant funding requires varying income limits with the result that 10 of its 12 rental units will be marketed to individuals or families in the range of 25% to 80% of the area median income. Two of the 12 units will be rented at market rates. Also, the foundation’ properties will be assessed by the town as commercial rental properties and therefore taxes will be paid accordingly. They will not be treated as tax exempt property.