11/18/2014 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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5 Community Preservation Coffmttee Minutes November 1 ,201 Review of CPA AMlications Pio used for May 201 ecial Town 1 lectin Leila Botsford—MAtepee dousing Authority Conti a ion of Iou ing Assistance Program; 3 Years:13 30.000: Leila Botsford, Executive Director to the 1 fashpee Mousing Authority was in attendance to review the application proposed for CPA.funding to allow for the continuation of the Housing Assistance Program. Ms, Botsford indicated the request is reflective of a 10% increase from the May 2012 appropriation to continue the project for an additional three-year period. For consideration is the funding request for$3 3 0,000 in total, CPA award of 11.0,000 per year for the much-needed housing assistance program. The program would continue as it was originally applied for granting the following; Ongoing, short-term rental assistance for up to to years One-time assistance for first/last/security deposits One-time emergency assistance for rent Mortgage assistance for shorn-ten Down payment assistance for first-time homebuyers IVIS. Botsford indicated the majority of participants receive assistance from the ongoing, short-term rental assistance program. This aspect of the program is not a part of the loan repayment program. Renters participating pay rent according to } them income, and work towards self-sufficiency. Since September of 2014, 49 residents have participated in this program. To date;thirty-eight residents are no longer on the program. In addition to the ongoing rental assistance program, it was noted the Towns of Chatham and Harwich offer the first/last/security,the emergency rental assistance program and short-term mortgage assistance programs. However,in the referenced towns,they are not considered as loan repayment programs. Unlike 1ashpee, they do not conduct the budgeting and efficiency programs to recoup funding to re-invest in 1 lashpee residents. The success rate of repayment in Mashpee is approximately 50%. It is estimated that %of the housing program funding provides for administrative support.