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3 <br /> k <br /> Community Preservation Committee Minutes <br /> April <br /> , 2008 <br /> APPOINTMENTS AND HEARINGS: <br /> Leila Botsford—Mhp Rental Assistance Pry —Phase I: <br /> Leila Botsford, Executive Director of the Mash ee Dousing Authority was <br /> before the CPC to request funding for the Mashpee Housing Authority <br /> Housing Assistance Program,Rental Assistance Program, Phase I. <br /> It was noted the CPA application was previously submitted to the CPC for <br /> funding consideration at the May 2008 Town Meeting. <br /> Tis. Botsford explained that funding for rental assistance would help <br /> create much-needed housing authority based programs to wage eaxners <br /> who may be over-income for traditional assistance programs,but cannot <br /> afford the increasing cost of housing on the Cape. <br /> Programs similar to this have already been implemented successfully in <br /> the Towns of Chatham,Nantucket, Rockport, Westport and Newbury port. <br /> First preference is given to applicants Iivi g apd working in the Town of <br /> Mashpee. The second preference is for those who reside in Mashpee. <br /> Families participating Mn the program would be required to set up and <br /> maintain goals to ultimately more rom assisted housing to un-assisted <br /> housing or hone ownership. In the rental assize program, budgeting <br /> education is provided to help families manage their money to improve <br /> their credit ratings, im rove upon their savings accounts and to become <br /> self sufficient. <br /> The proposed rental assistance program would begin as a one year <br /> program providing vouchers to approximately 20 families. The CPA <br /> project is anticipated to cost $118,800. The average monthly subsidy paid <br /> by the grant to respective landlords for a$1200 per.month rental home i <br /> $458. Applicants receiving rental assistance would be required to save a <br /> portion of the subsidized contribution to begin saving for the future. <br /> At this time,the Mashpee(lousing Authority has the software to <br /> implement the Program and some staffing to assist with the administrative <br /> costs associated to the program. Approximately 8% - 10%of the budget <br /> supports the annual adrnL*M'strative costs for salaries, and office supplies, <br /> etc. <br /> r <br /> ` I <br />