4/2/2002 AFFORDABLE HOUSING Minutes

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One of the items discussed is that Habitat moves quickly because they don't have to have deed; whereas Housing Authority has to evidently go through more time-consuming steps and have deed in hand to get approval and finding. At this point in the meeting Steven Moore and his colleagues arrived to make their presentation to the group. Presentation Leila introduced Steven Moore, who requested to do presentation on 40B project on Rt. 130. Steven Moore advised that he represents Attaquin Realty Trust and that he is one of the principals and one of the Trustees. He described their proposal as follows: • Property they would develop is 2 parcels across from each other on Rt. 130. Acreage: 9.6 acres. • Would develop between 82-100 apartments and little bit of mixed use commercial. • All units would count towards 10% Town goal of Affordable Housing. • All units would be rentals. • Buildings would be aesthetic; 3 -story design; nice landscaping; elevators; stairs; sprinklers. • Apartments would be 1 and 2 bedroom units; each unit would have washer/dryer hook- up. • No garages. • Estimated rents would be in $600-$1250 range, depending on income. • One of the units would have commercial space on bottom and apartments above the commercial unit. • On Collins Way it would be gated for fire/police access, but entry/exit would be in front. • Total of 5 buildings proposed: 4. 3 -Straight apartments. •.a 1 -Mix Use (commercial/with apartments above). Modeled after new Cape Cod Commission By -Law. •;• 1 -Future use. • Septic system would be under ground. • No absentee landlord. They would manage the complex. They have almost 30 years' experience. They would be on site.