The Reserve Fund provides capital grants to eligible non-profit organizations and private-sector developers to support the creation of affordable rental housing for low-income individuals and families in the City, particularly those who currently live in unsuitable, inadequate or unaffordable housing.
The fund is intended to supplement other funding sources, such as government programs, businesses, private donors, and community organizations. Funding for the Reserve Fund comes from subdivision and site plan agreements, as well as donations from businesses and individuals.
The funds objectives are to increase the supply of affordable rental housing in Cambridge for those most in need, encourage partnerships that support affordable housing development and support projects that will remain affordable over the long term.