9/4/2012 AFFORDABLE HOUSING Minutes

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NEW BUSINESS Special Meeting There was discussion regarding establishing a special meeting with Ms. Botsford. September 27 was suggested as the meeting date. Barnstable Lottery Chairman Abbott attended the Barnstable Lottery meeting for Cotuit Meadows and reported that 20-25 people were in attendance. The income for two persons totaled $52,000 and assets could not be in excess of$75,000. One half was local preference and minority had second preference. VA/FHA loans would not be accepted, although they were working with 8 different banks. Credit scores needed to be in the range of 660/680, applicants must be first time home buyers and applicants must be in possession of one half of the down payment. Ms. Bgloff described the South Shore Community Action Council which helped to educate individuals about homeownership as well as to encourage saving toward homeownership with matched funds, Ms. Bloff recommended a similar program for Mashpee. It was noted that the Mashpee Housing Authority offered some funds and education to first time homeowners. Itwas also reported that. the Cape Cod Commission also had funds available to first time home buyers. It was noted that. the Housing Assistance Corporation maintained a list of eligible buyers so that applicants could be considered for affordable housing lotteries Capewide. Mashpee Village It was reported that the project was on hold due to lacy of funding. CORRESPONDENCE -Two sessions will be sponsored by the Massachusetts Housing Partnership. One on September 13 and a session about Affordable Housing Trusts will meet on October 1.0. -A Chapter 40B training will tape place on September 2 , 7:30a®lp at Lombardo's in Randolph, MEETING ADJOURNME NT The next meeting will be October 4 at 6:30 p.m. in Room 1. Ms. Egloff made a motion to adjourn. Mr. I lbitz seconded the motion. All voted unanimously. The meeting adjourned at 7:30 p.m. Respectfully submitted, Joe M, CVid Board 'Secretary 3