3/24/2014 AFFORDABLE HOUSING TRUST Minutes

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3 Affordable Housing Trust Minutes March 24, 2014 Joyce Mason,the Town Manager recommended the Trust develop.a Declaration of Trust pursuant to the provisions of M.G.L. Chapter 44, §55C. A certificate of trust named the Mashpee Affordable Housing Trust would be recorded with the Barnstable County Registry of Deeds and the Barnstable County Registry District of Land Court. The purpose of the Trust would provide for the preservation and creation of affordable housing in the Town of Mashpee for the benefit of low and moderate income households. Discussion followed with respect to the powers of the Trust.which includes the acceptance and receipt of real property,personal property or funds by gift, grant or contribution. Local funding sources such as the Community Preservation Act through its Affordable Housing Reserves and future grant funding initiatives were considered, To transfer Community Preservation Act funding to the Affordable Housing Trust, a Town Meeting article and authorization thereof from Town Meeting action is required. It was noted the Town of Plymouth has received Community Preservation funding using this approach. Mitigation funds currently secured by the Cape Cod Commission are available for use as seed money to construct affordable housing in the Town of Mashpee. Although there are requirements that mitigation funds cannot be.used to conduct a feasibility study,the funding would support the rehabilitation or construction of new affordable housing units, homes or duplexes in the Town of Mashpee. It was noted the Affordable Housing Committee is in the process of updating the Town's affordable housing inventory. It was agreed the Trust would obtain input from the Affordable Housing Committee with respect to affordable housing needs in the Town of Mashpee. Discussion followed regarding potential sites for the development of affordable housing. It was disclosed the Horsley&Witten Group was retained by the Town to prepare a feasibility study and schematic design for the development of affordable housing at a 3.8 acre town,owned parcel on 209 Old Barnstable Road. The site was a recommendation of the Affordable Housing Committee for future development. The report and conceptual plans was recently presented to the.Board of Selectmen. The Town secured grant funding to conduct the feasibility assessment for this parcel. Additionally,the Mashpee Housing Authority received approval from the Town to conduct a feasibility study on town owned land located at 950 Falmouth Road,Mashpee. Results of the study have not been disclosed to date. However,there is a two-year time frame for the Mashpee Housing Authority to develop the property.