2/27/2007 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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3 -Comm nity Preservation Committee Minutes February-2 ,2007 APPOINTMENTS AND HEARINGS Public Tlearin —CPA Applications for October 2007 Town Meetin Bina Marine , Senior Project Manager for The Community Builders, Inc. of Boston was in attendance to discuss their request to seek CPA funding to assist in the revitalization of the Mashpee village Apartments. An informational booklet of the firm's application to the Massachusetts Department OfHousing and Cormnunity Development C to . recapitalize Mashpee village, 145 housing units was presented to the CPC Committee for review. Ms. Marinez indicated that Mashpee village located at 1 Wampanoag Drive represents the largest single-affordable housing resource in the 'own of Mashpee, and it is the largest on Cape Cod. Phase 1 of the rehabilitation project proposal is seeking to obtain a Low Income Housing Tax Credit' MTC allocation of$381,291, Housing Stabilization Funds in the mount of$750,000, Section 8 'touchers, and$1 M of Affordable Housing Trust Funds. The Mashpee CPA,funding request is $300,000. It was noted the Board o Selectmen have expressed strong support for the proposal of The Community Builders and its request for finding the revitalize the Mashpee Village Apartments in their letter of February 14,2007 to the DHCD. The Co nmumty Builders are expected to submit an application to seek the Committee's approval for the appropriation of CPA funds at the October 2007 Town Meeting. It was noted the referenced property was hunt in 1974 and received a f moderate rehab in 1994 after it was acquired by The Community Builders (TCB). It is the plan Of the TCB to fully'rehabilitate the property two stages..With available finding, the TCB would have the ability to commence Vith the intended work in the fall of 2007. Being no further comment,the Committee voted to close the Public Nearing. Motion made by Ms. Buscben eldt to close the Public Heanng. Motion seconded by Mr. Shaw. VOTE: Unanimous,