Upcoming Events
The Three Mile Harbor project is well underway, completion is expected in 2024. There will be 50 apartments in all; 10 one-bedroom, 30 two-bedroom, and 10 three-bedroom rental homes for households whose incomes are at 60% area median income (AMI) or less. As a point of reference, for 2022 those 60% AMI income caps are as follows: $49,200 for 1 person, $56,040 for 2, $63,060 for 3, $70,020 for 4, etc. A family of four can be 1 adult with 3 children, 2 adults with 2 children, 3 adults with 1 child, or 4 adults. Minimum occupancy per bedroom is 1, maximum is 2. This development is funded by NYS HCR and Raymond James through the IRS Low-income Housing Tax Credit program. Applications should be available before the end of 2024.
In November of 2022 voters in East Hampton Town approved a Community Housing Fund by a 2/3 majority to add a .5% tax to land transfers to go into a fund dedicated solely to the creation of attainable housing. This Fund is anticipated to generate millions of dollars per year that can be used to create first-time home buyer opportunities, down payment assistance, rental housing units, accessory dwelling units in both commercial and residential structures, a land bank for future housing uses, and more. A Community Housing Advisory Board (CHAB) will be evaluating proposals and making recommendations to the Town Board for use of the funds.
The Sag Harbor Community Housing Trust, the Town of East Hampton, and the East Hampton Housing Authority are partnering to construct 50 rental homes for the community on the Triune, Smith, and Cottages properties on Rt. 114, across from the entrance to the Sag Harbor Golf Course. This project is a few years down the road. Application availability will be announced in the media, at town hall, through the Office of Housing and CD, and the by the Housing Authority.
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