No. The Falls Village Housing Trust, Inc. is an independent non-profit 501.c.3 organization founded in October 2016.
According to the most recent census the population in our town is shifting to almost 40% second home owners, and our full time residents are getting older. Low maintenance rental properties would provide housing options suitable for young people, starter homes for families and senior-friendly safe homes.
Yes. The state of CT does not exempt affordable housing from any local property taxes. Any new construction will increase the property tax revenue of Falls Village.
There is no evidence to suggest that a well-maintained property will lower property values in Falls Village or adjacent neighborhoods. Other nearby towns’ property values have remained constant, and our neighboring towns with the highest property values have multiple affordable housing developments.
Yes, in particular during the preparation and construction phases. The Trust is committed to employing local contractors wherever possible. Once a property is developed, the Trust will employ a Property Manager as well as various maintenance personnel as needed.
FVHT will strictly follow the Fair Housing guidelines tied to our funding. Rentals will be priced and available to individuals with incomes at 80% Average Median Income (AMI) and 60% AMI. In addition, a 25% AMI category exists that is particularly well suited for seniors on limited fixed income and handicapped applicants. Although, senior and disabled may apply in all income ranges. According to the most recent census, over 30% of Falls Village residents would qualify for one of these categories