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.

Who Is the Grant Program for?

The TCF Grant program is for qualified households, giving preference who have a connection (school, family or work) to Little Compton and need access to resources to make sustained homeownership in Little Compton a reality. In this program, TCF provides grants of up to $50,000 to qualified individuals to assist with home ownership.

Kinds of Initiatives That Qualify

Projects that support homeownership in Little Compton qualify. This is a wide range of possibilities that include:

• Grantee-owned home needing emergency repairs: septic, well, roof
• Grantee-owned home without current certificate of occupancy needing up to $50,000 to complete rehab project and achieve CO
• Grantee-owner home/property creating separate unit for family or rent (ADU). Separate unit and entire property remain within TCF Attainable housing ordinance guidelines

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 do to complete your application. *At this stage, you can expect more detailed information requirements – for example, detailed description of what funds are needed for, financial statements, verifiable cost estimates for the work to be done, reference
• Approval: The request is assessed and approved by The Commons Foundation

The Agreement

The agreement must align with our mission to support "Attainable Housing" as defined by Little Compton definition of attainable housing. As such, the agreement will include terms that help ensure the resulting project will remain in the “attainable housing” stock. While each agreement may have unique circumstances, some examples of terms you can expect:

• The home size and structure will remain constant with the Little Compton Attainable housing ordinance
• The home will serve as a Primary Residence for minimum of 10 years