Program Overview
Our Mission
The Commons Foundation mission is to support sustaining the town of Little Compton by increasing access to home ownership for qualified families and seniors in the Little Compton community. Our programs provide resources that help increase home ownership for families and seniors and help the community retain and grow our school populations and employment in fields traditionally associated with Little Compton.
Who Qualifies For The Program?
The TCF Grant program is for qualified households who need access to resources to make sustained homeownership in Little Compton a reality. The grant program is designed to support families who reside in Little Compton and whose income and other characteristics are generally recognized as middle income.
Household income up to 140% of Family-size HUD defined AMI (AMI) for Providence Fall River area, with no lower limit. Area Median Income (AMI) is the gross middle income for families in a specific area, calculated each year by the Department of Housing and Urban Development (HUD). The Commons Foundation may consider applicants with higher incomes, depending on other factors.
- For reference, in 2025 the AMI gross income limits are:
What Projects Qualify?
Projects that help support the TCF mission to support access to affordable and attainable housing. This is a wide-range of possibilities that could include:
- Building a new home in Little Compton on land you currently own
- Buying a home in Little Compton, with TCF providing some of the down payment
- Completing or refurbishing a home in Little Compton
In general, homes qualifying for the loan program are in the range of “average sized homes” for Little Compton. For reference, homes sized under 1800 sq. Ft. are considered average sized, for the primary dwelling. Separate units, e.g., ADUs, sheds, or barns are not included in the sq ft range. The Commons Foundation may consider other projects.
If you are not sure if you or your housing project qualifies, please please contact us.
The Grant Process
- Pre-Application: Determines if you meet initial qualifications for the grant program.
- Application: Once we review the Pre-Applications, we will reach out to those who meet the initial qualifications and request additional information to prepare a complete application. If you need help, we are available to walk with you through the rest of the process so you will fully understand what you need to complete your application. *At this stage, you can expect more detailed information requirements – construction documents, credit check, proof of income, etc.
- Approval: The grant request is assessed and approved by TCF.
- Grant issued!
The Grant - Ensuring Mission Alignment
The purpose of the grant must align with our mission to support families and seniors wishing to continue to reside in Little Compton. While each grant may have unique circumstances, some examples of terms you can expect:
- Will serve as a Primary Residence for minimum of 10 years
- If the grant facilitates the creation of a rental unit, the rental unit will be affordable for middle income renters for a minimum of 10 years
Important Program Details
- Generally, up to $20,000. Other amounts will be considered on a case-by-case basis.