1/15/2002 AFFORDABLE HOUSING Minutes

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Jamie Regan informed the group that he is against this land swap. Zella Elizenberry raised questions concerning the land sites, market value, and types/sizes of homes to be built. She also stated that she has not seen any comparative -type data. Leila Botsford said that since Meetinghouse site would benefit school and the proposed site would give affordable housing additional sites, then she would support the proposed site. Arthur Weinstein asked whether or not the project structures would be the same. Paul Glynn responded that in going into the project you would not be able to tell which of the homes were affordable. Finally, Paul said selectmen will have to support this and he is looking to this Committee to support the land swap. Arthur Weinstein asked if Developer's profit structure would be same at this site as at Meetinghouse Road. Paul said he did not know if it would be the same, but he said State programs get involved. Arthur then asked: Are you doing this as a favor to the Town, or because it's more lucrative for you? Paul said: Can I get in the middle there? Arthur asked would building on Meetinghouse interfere with school. Tom Fudala said definitely... that's why this is being proposed. Zella Elizenberry asked Tom why, if the Town wanted this site, did they not purchase it previously. Tom responded the Town does not usually buy property until there is an actual project to be built. He said the land sat for years with no one buying it. Jamie Regan asked Paul how much they paid for the Meetinghouse Road property. Paul responded it's complicated. He said deed states $115,000, but there were other issues to be cleared up somewhere around $20,000. Leila Botsford thanked Paul and Christian for attending the session and apologized that no vote could be taken since John Cahalane's early departure left the Committee without a quorum. Leila advised that she was not aware John would have to be excusing himself so early from the meeting. Paul Glynn and Christian Valle exited the meeting. Continuing the Committee session, Dick Terry gave the members of the group a copy of a letter from Stuart Bornstein wherein Mr. Bornstein stated he would put up $10,000 and build a duplex if Town gave a lot of land and $20,000 seed money. Leila said she is already working on getting the approval to build. Leila Botsford took an "informal" poll of those present to determine whether or not they would favor the land swap proposal. The results: • Jamie Regan — No. • Dick Terry — Would pursue. • ZeIla Elizenberry --- Needs more information to decide. • Arthur Weinstein — Thinks it important to pursue. If it's key to developing school, then we have to look at it.