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3 <br /> i <br /> Community Preservation Committee <br /> Minutes f <br /> May 8, 2007 <br /> APPOINTMENTS AND HEARINGS <br /> x <br /> Gina Martinez—The Co n i n ignity Builders—Mashpee Villa <br /> RecMi r <br /> i Gina Martinez, Seniorro*ect Manager of The Commurnity Builders was <br /> present to discuss a proposal to recapitalize the Mashpee village, 14 <br /> units of affordable housing. Mashpee Village is the Town of llashpee's <br /> largest single affordable housing community and among the largest on <br /> Cape Cod. <br /> The Community Builders is seeking CPA funding in the amount of <br /> x <br /> $300,,000 to assist with the project proposal. Additional funding is bung <br /> sought through Affordable Housing Trust Funds administered by las <br /> Housing, by an allocation of a Low Income Housing Tax Credit LIHTC <br /> and through Housing Stabilization Funds. <br /> The award of Housing Stabilization Funds $750,000 is contingent upon <br /> taa <br /> he successful award of$300,000 in CPA funds. <br /> letter of support from the Board of Selectmen dated February 14, 2007 <br /> is included in the CPA application. Leila Botsford, Executive Director of <br /> the Mashpee Housing Authority and several legislative officials also <br /> remitted letters in support of the project proposal. The Mashpee village <br /> project is also consistent with the Town's Local. Comprehensive Plan. <br /> It was noted the Mashpee village has provided housing to the Mashpee <br /> community for over thirty years. It received moderate renovation is 1993, <br /> and it is presently in need of major improvements to maintain affordability <br /> in accordance With Town codes, ,ADA requirements and Title v <br /> copliance. As a result of the complexity to finance the project, the <br /> revitalization is proposed in two phases. <br /> In reviewing the letters of support, it was noted that the letters were <br /> included in the February application submitted to the Massachusetts <br /> epartrnent of Dousing and Con rnunity Development(DHCD). Ms. <br /> Martinez indicated that discussions occurred regarding,all sources of <br /> funding to be applied for with all parties remitting letters of support to the <br /> Mashpee village project proposal. Theprodect also meets the state' <br /> definition for CPA funding. <br />