HomeMy WebLinkAbout260723_CHAB_Memo to the Town Board_DPALTown of Southold 7/23/2026
Planning and Community Development Department
Community Housing Advisory Board – Down Payment Assistance Recommendation
Dear Town Board Members,
On July 15, 2026, the Community Housing Advisory Board (CHAB) reviewed the proposed CHF
(Community Housing Fund) Down Payment Assistance Loan Program. To provide a comprehensive
overview, the Planning and Community Development Department (PCDD) prepared a package of
documents to supplement the CHAB’s review of the program, which included:
• A staff memorandum outlining the details of the program and the revision to the proposed
recommendatfon within the Community Housing Plan outlined in Sectfon 4.3.1.
• A report of the proposed CHF budget allocatfon.
• Sectfon I and II of the CHF Down Payment Assistance Program Guidelines.
Upon review of the materials outlined above, the CHAB reviewed the original recommendatfon contained
within the Community Housing Plan, which proposed providing down payment assistance in the form of
loans up to $30,000, and compared it with the proposed percentage-based assistance model. Following
its discussion of the proposed CHF Down Payment Assistance Loan Program, the CHAB unanimously voted
to revise the original recommendatfon and supported providing assistance of up to 18% of the purchase
price of an eligible home, as outlined in the proposed Program Guidelines.
During their discussion, members of the CHAB emphasized the importance of providing meaningful
financial assistance to income-eligible households within the applicable SONYMA income limits. The CHAB
noted that many income-qualified residents within the Town of Southold may have the ability to meet the
monthly mortgage payments associated with homeownership but many face challenges accumulatfng the
required 20% down payment.
On behalf of the Community Housing Advisory Board (CHAB), the Planning and Community Development
Department respectiully submit the CHAB’s recommendatfon in support of the proposed CHF Down
Payment Assistance Loan Program for the Town Board’s consideratfon.
Andrea Sullivan
Respectiully submitted,
Andrea Sullivan
Community Development Project Supervisor
To: Albert J. Krupski, Jr., Town Supervisor
Members of the Town Board
Denis Noncarrow, Town Clerk
From: Members of the Community Housing Advisory Board
Date: 7/23/2026
Re: CHAB Recommendations Regarding the Proposed CHF Down Payment Assistance Loan
Program