CPA Projects – Detailed Report

- Pioneer Valley Habitat is requesting Community Preservation Act Funds to purchase construction materials needed to build the fourth home at the Stanley Street Amherst site. The $50,000 in CPA funds will be used to purchase construction materials and services, and to cover the cost of Photovoltaic System which was previously funded with grant funds from Mass Technology Collaborative. Community Preservation Act Funds are a very important element in the funding for Habitat homes. The cash cost for construction is approximately $125,000. Habitat raises the funds to build the homes as they are building. They sell the homes to the family for the cost of construction and provide a 20-30 year 0% mortgage. All mortgage payments are used by Habitat to help build more homes. An allocation to Habitat is not a onetime donation – it is a long-term investment that is continuously reinvested in meeting the housing needs of very low income families who then pay property tax to the Town on these homes.