Mission: Island housing trust (iht) promotes viable, year-round island communities by advancing permanent workforce housing on mount desert island, maine.
Programs: Island housing trust (iht) continued construction of workforce housing in phase ii of the ripples hill development in somesville, maine. Through december 2014, iht has completed six houses in phase i. On average, qualified homebuyers at ripples hill had household incomes below 120% of area median household income for maine for 2014. Three additional lots were created in phase ii upon completion of the extension of the roadway, sewer line and other utilities. Iht also continued working with a private developer to qualify homebuyers for new homes in a bar harbor subdivision (sabah woods) that are restricted in resale price by affordability covenants similar to those used at ripples hill to ensure that the homes remain affordable to qualified island working individuals and families in the future. Continued on schedule o. Iht continued the homeownership assistance program that will provide bridge grants to qualified homebuyers who are seeking to purchase an existing residential property on mdi that would be their primary year round residence. The grants are given in exchange for the legal adoption of iht affordability covenants on the real estate.