The Board of Trustees has established the following funding guidelines for eligible activities:

• All financial transactions undertaken by the Trust where Community Preservation Act (CPA) funds are used must comply with the requirements of the Community Preservation Act (CPA).

• Funding for Preservation Program activities up to $25,000 per home will be provided in the form of a fifteen (15) year, 0% interest, forgivable mortgage that is recorded on the property at the Barnstable County Registry of Deeds. The mortgage shall be between the Trust and the homeowner. The mortgage shall be paid back to the Trust if the home is sold, transferred, refinanced to a reverse mortgage, or refinanced with a $50,000 or more equity cash out. If the home is sold or transferred to a family member, the mortgage may be transferred if the new owner is income-eligible.

• All affordable units created under the Rental Expansion Program must be deed restricted

• Development loans provided under the Rental Expansion Program are limited to up to $100,000 per unit. The Board of Trustees will determine the interest rate of between 0% and 3%, depending upon project feasibility. Payments will be deferred until the property is transferred unless the recipient is determined to be in violation of loan terms (allowances for extenuating circumstances, appeal process) in which case payments will be due. Any loan proceeds will be deposited into the Housing Trust Fund. All loans must be in the form of a mortgage against the property and may be subordinated to other project lenders. Deed riders for 10-15 years are required for projects where the loan is more than $20,000 per unit and required for at least 30 years or in perpetuity for loans of more than $50,000/unit.