Frequently asked questions
Frequently asked questions
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What is Affordable Housing?
What is Affordable Housing?
Affordable Housing is generally defined as housing on which the occupant is paying no more than 30 percent of gross income for housing costs, including utilities.
What is Nonprofit Housing?
What is Nonprofit Housing?
Nonprofit housing is developed by nonprofit corporations with a community board of directors and mission. Most housing developed by nonprofit housing developers is affordable with rents below market-rate. Income generated from the housing is put back into the mission of the organization, rather than being distributed to investors.
What is an Elderly Person Household?
An elderly person household is composed of one or more persons at least one of whom is 62 years of age or more at the time of occupancy.
Is TAH a Nonprofit Organization?
Is TAH a Nonprofit Organization?
Yes. TAH is registered as a Vermont Charitable non-profit organization, 501c3 status pending.
Is TAH a Membership Organization?
Is TAH a Membership Organization?
Yes. The members of TAH shall consist of Voting Members and Subscribing Members. Voting members shall consist only of members of the Board or Directors. Subscribing Members shall be composed of residents of the housing project.
Are the Officers or Directors Compensated?
Are the Officers or Directors Compensated?
No. Officers and directors hold volunteer positions and will not be compensated.
Will These Holdings Benefit the Residents of Tunbridge?
Will These Holdings Benefit the Residents of Tunbridge?
Tunbridge residents and property owners will be given priority in rental decisions being made. All land holdings shall be held in common for the benefit of the community.
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