05/06/2019 Special Town Meeting - Laserfiche WebLink

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Article 13 To see if the Town will vote, as recommended by the Community Preservation Committee, to appropriate and transfer from the Community Preservation Fund Budgeted for Appropriation Reserve in accordance with the provisions of M.G.L. Chapter 44B §5, the sum of$300,000 to the Mashpee Affordable Housing Trust("Trust"); said funds to be held and expended by the Board of Trustees of said Trust for the purpose of Affordable Housing, including any necessary costs and expenses related thereto as recommended by the Community Preservation Committee; provided, however,that said sum shall be used exclusively for community housing and shall remain subject to all the rules, regulations and limitations of M.G.L. c. 44B when expended by the Trust, shall be accounted for separately by the Trust, and, provided further,that at the end of each fiscal year, the Trust shall ensure that all expenditures of said funds are reported to the Community Preservation Committee, or take any other action relating thereto. Submitted by the Community Preservation Committee Explanation: The goal of this project is to allow a more efficient procedure to enable the acquisition and subsequent development of affordable housing projects in the Town of Mashpee. The Affordable Housing Trust is the authority who may purchase, hold, and make decisions regarding the development of affordable units. Granting available funds to the Affordable Housing Trust will empower the Trust to negotiate with developers and execute real estate transactions effectively and efficiently. The Community Preservation Committee recommends approval of Article 13 by a vote of 8- 0. The Board of Selectmen recommends approval of Article 13 by a vote of 4-0. The Finance Committee recommends approval of Article 13 by a.vote of 5-1. Motion made by Selectmen Andrew Gottlieb. Motion: I move the Town vote, as recommended by the Community Preservation Committee,to appropriate and transfer the sum of $300,000 from the Community Preservation Fund Budgeted for Appropriation Reserve in accordance with the provisions of M.G.L. Chapter 44B §5, to the Mashpee Affordable Housing Trust("Trust"); said funds to be held and expended by the Board of Trustees of said Trust for the purpose of Affordable Housing, including any necessary costs and expenses related thereto, as recommended by the Community Preservation Committee; provided, however, that said sum shall be used exclusively for community housing and shall remain subject to all the rules, regulations and limitations of M.G.L. c. 44B when expended by the Trust, shall be accounted for separately by the Trust, and,provided further, that at the end of each fiscal year, the Trust shall ensure that all expenditures of said funds are reported to the Community Preservation Committee. Motion passes at 7:52 PM. 15