Malden is the lead or "representative" city of an eight-community jurisdiction known as the North Suburban Consortium (NSC). The NSC is comprised of the contiguous communities of Malden, Medford, Arlington, Melrose, Chelsea, Everett, Revere and Winthrop that have signed a cooperative agreement in order to gain access to U.S. Department of Housing & Urban Development (HUD) HOME Program funds. The annual Federal block grant which funds the NSC HOME Program is dedicated to the rehabilitation, creation and preservation of affordable housing.
In 1991, the City of Malden designated the Malden Redevelopment Authority (MRA) to carry out lead community responsibilities. The MRA administers affordable housing programs for the City and actively seeks affordable housing opportunities in the City that can be partnered with NSC HOME funds.
First Time Home Buyer Down Payment Assistance Loans (through the NSC)
The NSC utilizes federal HUD HOME funds to offer First Time Home Buyer (FTHB) Down Payment Assistance Loans to income-eligible applicants purchasing a condominium, townhome or single-family property in one of the eight NSC member communities.
For further information about this program, call 781-324-5720 x 5729 or x 5730.
HOME Loans to Develop Affordable Housing (through the NSC)
The NSC utilizes federal HUD HOME funds to assist developers in the creation of low and moderate income housing. These funds are available for developers for both rental and homeownership projects in any of the eight NSC member communities.
For further information about this program, call HOME Program Director at 781-324-5720 x 5729.