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PROJECTS DEVELOPMENT <br /> A HER PATH: This past year I have worked hard to learn the Low Income Housing Tax Credit and all <br /> that is involved and required to comply with this program. I've worked hand-in-hand with the current <br /> management company, Peabody Properties and our working relationship has improved. We have <br /> requested Mass Housing Finance Agency MHFA and Mass Housing Investment Corp. (MHIQ to approve <br /> the lousing authority taping over management on July 1, 2009. MHFA has scheduled a review of the <br /> housing authority for the 27th of May. MHIC has indicated a hesitancy in turning over the management, <br /> but with Peabody Properties support and, hopefully approval by the primary lender, MHFAF MHIC will <br /> allow the transition. <br /> BREEZY ACRES EXPANSION: The Authority has made a little progress with the Breezy Acres Expansion. <br /> I applied for, and we received, a grant from Mass Housing Partnership to have a consultant review the <br /> property and development options. We applied for more CPA Community Preservation Act) funding for <br /> this project but were denied. However, based on the $450,000we have been awarded in Community <br /> Preservation money, and programs offered through other agencies, it was found that it would be feasible <br /> to development 8 units of family housing. We decided not to plan on the group home, as funding for that <br /> is no longer available. The Bequest for Proposals for a developer is set to be advertised in .dune, and w <br /> hope that this project moves forward. We have requested that the town life the deed restriction which <br /> restricts the number of bedrooms on the site and we are waiting to hear from them. <br /> HOUSING A I TAf CE PROGRAM: We applied for CPA Community Preservation Act) funding for this <br /> project again, and were denied. It was decided not to apply for further CPA funds at this time. <br /> BOILER REPLACEMENT/BREEZY ACRES: We received funding from DHCD to replace all of the boilers at <br /> our Chapter 705 property— Breezy Acres. <br /> Closing remarks <br /> It has been another very busy year. A lot of my time has been committed to learning the Low Income <br /> Housing Tax Credit Program LIHTC at Asher's Path and doing my best to ensure a smooth transition to <br /> managing in the property in 2009. I've remained committed to continuing to try to further develop our <br /> Breezy Acres site, spending a lot of time creating and"fine tuning""a good Request for Proposals. <br /> I see a lot of positive things happening at the Mashpee Housing Authority and I am proud of what we've <br /> been able to accomplish, especially during such an economically depressed and extremely confined <br /> budget period. <br /> This budget year promises to be more challenging than last. With the Commonwealth suffering a slow <br /> economy and huge losses of expected revenue, it is expected that housing authority budgets will be cut <br /> back. This will be extremely challenging, so it is especially important that the transition at Asher's Path is <br /> accomplished. <br /> I thank the Board for its continuing support and encouragement. I love my job and it is an honor to do it. <br /> Respectfully submitted, <br /> Leila Botsford, PHM <br /> Executive Director <br /> -6 - <br />