State Tax Credits Awarded

The Island Housing Trust was awarded $150,000 in Community Investment Tax Credits. This is the second year of a five year program that allows individual donors, businesses, and foundations to receive 50% of their contribution back from the state in the form of a tax credit or rebate. Contact us at 508-693-1117 to take part in our 2015 program and learn more at our website.

Sepiessa Ribbon Cutting Ceremony

The Island Housing Trust held a ribbon cutting ceremony on November 13th to celebrate the completion of three newly constructed Sepiessa rental apartments at 12 Clam Point Road in West Tisbury.  The Sepiessa apartments represent our community’s latest effort to address the island’s critical workforce housing need, especially among households with lower incomes.

Philippe Jordi, Executive Director  thanked the many generous donors, the Dukes County Regional Housing Authority, Town of West Tisbury’s Community Preservation Committee, FHLB Boston, Edgartown National Bank, Drews Cove Builders, South Mountain Company, and many others who made the project possible.

Those who attended the ceremony were given an opportunity to tour these truly affordable apartments designed by South Mountain Company and built by Drews Cove Builders to the highest MassSave energy efficiency standards.  Photographs of the ceremony and the Sepiessa apartments at various stages of development can be viewed at our Facebook page.

Green Building Tour – May 27th

The Island Housing Trust invites you to visit three new Sepiessa rental apartments under construction at 12 Clam Point Road in West Tisbury next Tuesday, May 27th from 5:00 to 6:00 pm. See directions below.

Please join us to learn more about what it takes to design and build truly affordable rental housing for low income residents with critical housing needs.

Farley Pedler of DrewsCove Builders will give a tour of these cost effective, energy efficient apartments designed by South Mountain Company to achieve the state’s highest MassSave certification.

Hear about how strong partnerships with the Dukes County Regional Housing Authority and the Town of West Tisbury were critical to the success of this project.

Learn about how public and private funding sources were used to create this small scale rental project, including West Tisbury Community Preservation Act, FHLB Boston Affordable Housing Program, Dukes County Community Development Corporation, Dukes County Regional Housing Authority, Edgartown National Bank, and the generous support of foundations and our many donors.

Directions: 12 Clam Point Road in West Tisbury is 1.4 miles from the intersection of the Edgartown West Tisbury Road down New Lane, take a right on Clam Point Road and an immediate left to Sepiessa rental apartments.  You can also find Google Map directions at: http://goo.gl/maps/V3CTc

Annual Meeting – April 12th

 

The public is invited to attend the Island Housing Trust’s annual meeting being held at the new West Tisbury Library on Saturday, April 12th from 10:30 to 12:30. Lunch will be served after the meeting.

 

Joe Kriesberg from the Massachusetts Association of Community Development Corporations will talk about the statewide Community Investment Tax Credit program.  The Island Housing Trust will launch its Community Investment Campaign to raise funds, grow our work, and engage our community.  

 

Joe will moderate a panel of community and business leaders including Julie Fay from the MV Community Services, Fielding Moore from the Edgartown National Bank, Dennis deRosa from the MV Chamber of Commerce, and Peter Temple from the Donors Collaborative and the Health Aging Task Force.  The panel will explore the connections between affordable housing and the island economy, and the Island Housing Trust’s role in keeping the Vineyard a great place to live, work, and stay healthy.

For more information please contact Philippe Jordi, Executive Director of the Island Housing Trust at 508-693-1117 or at info@ihtmv.org

 

 

State Awards Community Investment Tax Credits

The Island Housing Trust is thrilled to have been awarded $110,000 in state Community Investment Tax Credits. Governor Patrick and the Commonwealth’s Department of Housing and Community Development recently announced the award of $3 million in tax credits to 38 community development nonprofits in Massachusetts.

The Community Investment Tax Credit will provide a 50% refundable state tax credit and a federal tax deduction to donors who invest in the Island Housing Trust, through this allocation of tax credits. As a result of these tax credit investments, a total of $220,000 will be available this year to the Island Housing Trust to help implement its Community Investment Plan. The Island Housing Trust may also qualify for future allocations of tax credits.

The three-year Plan developed by the Island Housing Trust is centered around the following goals: 1) Increase public awareness and support for affordable housing efforts and initiatives island-wide; 2) Increase the number of affordable homes from 60 to 100; and 3) Ensure the on-going stewardship of all its current and future homes.

“The Community Investment Tax Credit will leverage private dollars so that we can undertake high-impact, affordable housing development, both ownership and rental, for low and moderate income island residents” said Richard Leonard, President of the Island Housing Trust. “What is particularly exciting about this program is the way it brings together state resources, with the island’s business community, individual donors, and local governments to forge creative, bottom-up solutions that yield real results. This program will help to ensure that our island community, and working families and individuals have a better opportunity to fully participate in our local economy. We are grateful for the support of many Islanders who helped to formulate this Plan, and look forward to collaborating on its implementation.”

If you are interested in making a donation of $1,000 or more to the Island Housing Trust and realizing a 50% Massachusetts  tax credit and a federal tax deduction, please contact Philippe Jordi, Executive Director at 508-693-1117 and complete this Tax Credit Form and mail it to the Island Housing Trust along with your donation.  State Department of Revenue regulation (830 CMR 62.6M.1) explains the calculation of the community investment tax credit for qualified investments to the Island Housing Trust.