Excerpt from 'Preserving a Way of Life'
What could the
Housing Bank funds do?

(Quicktime Movie)

here is no silver bullet that will solve everything. There are a variety of Island-wide opportunities that together could have a huge impact — if we had reliable funding for them.

Possibilities include:

  • Funding down payment and mortgage assistance
  • Converting summer rental properties to year-round rentals
  • Moving existing houses marked for demolition
  • Rehabilitating properties making them suitable for year-round rental
  • Granting funds to organizations that create affordable housing i.e. Habitat for Humanity
  • Designating housing for essential service employees
  • Providing financial assistance to reduce density and cost of affordable housing projects
  • Revitalizing town centers — rehabilitate historical façades and create year-round living space on upper floors of commercial buildings