7/10/2001 AFFORDABLE HOUSING Minutes

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1_15_1990 2:48PM FROM CCNSC SOS 539 2872 P. 3 ID: MAR 21 '00 12 :8 PI0 .003 P.02 Proposed Resolution For Town meeting WHEREAS. . The Town of Falmouth is experiencing a ,severe shortage of �� •,c r rental hour anQ ^^ 4,0- WHEREAS, The Town's Comprehensive Dian sites affordable housing as lie-1.,.1�-'�,r1�,'�" one of the areas of critical planning concerAl and kV WHEREAS: The Inclusionary Zoning By-Law in the Town of Barnstable IC is being challenged in the courts, making a similar by- law in Palmouth impractical at this timer and WHEREAS: Since 1986 over 1,100 acres of open land have been set aside for open space at a cost Locally of over $20 million, and WHEREAS; The average amount of local funds spent since 1986 on open space has been just over $1 .4 million per year, and WHEREAS ; The Land Bank legislation created a revenue stream of 34 of the local tax base for communities to acquire open space. This new revenue stream will be available to the Town for a 20-year period for this purposer and WHBRBAS: in order to alleviate the housing crisis and maintain a viable and diversified community in the future a commitment similar to the commitment made to open space is required, NOW THEREFORE BS IT ABSOLVED: That the Falmouth Town Meeting hereby endorses the concept of earmarking a percentage W total town spending annually for the purposes of creating 1 year-round yenta housing an the community. Said a pel`c a e s u Q be not less than 0. 54 of the 9� total town expenditures; and 1!►' _ L BE LT FURTHER RESOLVBD: That the Board of Selectmen create a Town Housing Cormftittes, similar to the 3000 Committee, comprised of not less than five nor more than seven members to make recommendations to the Board of Selectmen on how the annual housing funds will be spent within the general guidelines that funds may only be used for the purchase or and/or the purchase and rehabilitation of existing properties in the Town of Falmouth. 16c : 7 %�