9/5/2017 AFFORDABLE HOUSING Minutes

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of the duplex would be compact, eliminating the reed for a long road and instead, offering a turnaround driveway. Mr. Pena stated that the property included two acres and was located in the R zoning area, and was suitable for a Chapter 40B pro j ect� Mr. Abbott inquired about the next step and Ms. Pena Smith responded that they were still working on project development costs and when this was under control.they would soon file a Chapter 40B application. Mr. Johnson inquired about the rent cost and Mr. Penna responded that they would use the three bedroom monthly rent of$1,845 set by HUD. Mr., Johnson inquired whether there would be an option to purchase. Mr. Perna stated that the need was for rental housing, He said he had 30 years' experience renting his rental hone at $1,600 per month and received 200 calls when the home became available to rent. Mr, Pena understood Mashpee's affordable housing percentage was just 2.8% acid confirmed that$1,845 was the HUD rent. Mr. Johnson inquired whether the rent needed to be set at what was affordable for a family at 60-80% of median income. Ms. Snaith Pena stated that they were still working on these numbers, Mr, Perna said he believed Massachusetts did not have a program mailable that permitted tenants living in income restricted rental units to buy their units* Mr. Abbott inquired whether the Mashpee 14ousing Authority would be managing the units to which Mr. Dena confirmed that they would, Chairman Isbitz inquired whether they were working with others familiar with Chapter 40B and Mr. Perna responded that they were working with consultant Lorna Fogg. Mr. Pena emphasized that Mashpee needed to increase their affordable housing offerings. Mr. Johnson inquired about the surrounding neighborhood and Mr. Pena responded that they were primarily single family hones and cottages. The Chair expressed his concern that setting a monthly rent at 1,845 was not necessarily affordable and inquired about access to subsidies. The Chair stated that for this rent to be affordable, the annual income would have to be $71,800 for a family. Mr. Perna stated that the $1,845 monthly rent came from the Mashpee Housing Authority and was not an arbitrary number. The Chair asked if Mr. Pena could show the Committee haw he calculated the affordable rents, based on the tenant's income. Ms. Pena. Smith responded that the information would become available as they entered the application process. The Chair inquired whether the MHFA would be subsidizing tl'ie rents and Mr. Pena responded that they would not. Mr. Abbott stated that thele were affordable three f bedroom homes in Mashpee with lower rents. FIs. Smith Pena stated that they were in the process of completing the application in coordination with their consultants, and thein research was continuing. They welcomed feedback frown the Committee, and understood that the Committee was seeping additional information on the target income group for the project and whether the proposed rents were affordable-for this group. Mr. Abbott stated that overall, they liked the concept, the design, the location and the layout and just wanted to know how it would be affordable. Ms. Smith Pena said she understood that the Committee was expressing its concern about whether a.. working class family could afford the rent and emphasized that they wished to provide a project that would benefit the community. Mr. Perna stated that they would not begun building until they were able to clearly address the ommittec's'concerns. The Chair thanked the project proponents for sharing their proposal sal with the Committee and agreed that it was an exciting opportunity and nisch needed for Mashpee. Mr, Pena stated that he was seeping support from the Cornmittee and was also looking into LYHT (Low Income Housing Tax Credits). 2