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I , <br /> I <br /> stated that it would not be obvious that it was an affordable housing complex. W. Lconomos stated <br /> that rental rates had become more competitive due to the increased cosh of homeownership. <br /> Mr. Economos. stated that the total cost of the project would be$20 million, $8 million of which would <br /> be for construction and the remainder as soft dost for the acquisition. TCB has applied for tax credits <br /> with the State which would allow 10 million in private investment. The private investment along <br /> with a new mortgage should allow for the project to be completed# Funds were rewired from 1lashpee <br /> in order to show the Town's support for the project. Mr. Economos has met with CPC and intends to <br /> request $75,060 from the Town to leverage the investments by the State. The project was expected to <br /> create some construction jobs as well as provide good condition dousing to over 300 people. <br /> Ms. Egloff inquired whether the property offered wi i. It was noted that wi i was available in the <br /> community building and that there was a computer lab available. Ms. Egloff stated that the Affordable <br /> Housing Committee had no fiduciary power but that they coup offer support, with the agreement o <br /> Committee members. The Chair indicated that there may be insufficient time to request funds in time <br /> for Town Meeting. fir. Economos.reported that he had already discussed the issue with DHCD who <br /> • stated that their funds would not be released until the town funds were acquired. <br /> motion was made by Ms. Egloff to support the economic development program with their <br /> community development program at Mashpee village wholeheartedly. Mr. Johnson seconded <br /> the motion. All voted unanimously. <br /> Selectman O'Hara inquired whether or not the new treatment plant would allow for expansion of the <br /> property. Mr. Econornos responded that the focus was to provide a system for the existing units and <br /> residents. llrir. Lconomos stated also that he was advised that the system would be built with excess <br /> capacity. <br /> OLD BUSINESS <br /> o Falmouth Road Project Discussion <br /> Chairman Abbott reported that the property was now available for development. The Chair referenced <br /> the $550,000 that may be currently available to use for affordable housing. The Cham-will contact the <br /> Torn Manager about developing an RFP. 1 Is. Egloff recommended the acquisition of a needs <br /> assessment for 1lashpee to identify what type of housing should be developed. The Chair referenced <br /> the Comprehensive Plan highlighting Mashpee's needs and the Cape Cod Commission's emphasis on <br /> rental creeds. Ms. Egloff recommended-identifying the source of the information and recommended <br /> speaking with 1lashpee groups to identify the Town's creeds. Mr. Johnson suggested that it be the <br /> responsibility of the developer to fund a creeds assessment. Selectman Richardson recommended <br /> contacting Ted Theis or Habitat for Humanity regarding plans already developed for veterans' housing. <br /> The Chair referenced Hor ely Whitten who had offered to look at the site to recommend a multi-unit <br /> development possibility. W. Johnson suggested having Habitat for Humanity or Community Builders <br /> review the site. Where was additional discussion regarding the housing needs ofMa tepee residents. <br /> Chairman Abbott agreed to contact Ms. Botsford and TCR about their waiting lists and will follow up <br /> with Ms. Mason regarding an RFP. lis. Eglo r reported that Barnstable County offered assi stance with <br /> drafting of an RFP. <br /> Additional Property for Consideration <br /> On hold for now <br /> 4 <br />