11/04/2019 BOARD OF SELECTMEN Agenda Packet

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5 Affordable Housing Trust Minutes March 4, 2019 AFFORDABLE HOUSING PRESENTATIONS: Housing Assistance Corporation: Chief Executive Officer Alisa Galazzi/Assistant Director of Housing Development David Quinn: Alisa Galazzi, Chief Executive Officer of the Housing Assistance Corporation and David Quinn Assistant Director of Housing Development gave an overview of the benefits of housing essential for strength in families and for the development of a strong community. The benefit of the year round workforce and affordability in housing costs to sustain businesses and maintain workers was also discussed. Barriers in obtaining increased year round housing include a seasonal economy, land values and costs associated to construction as well as zoning incentives, and the lack of wastewater infrastructure. In considering the Town of Mashpee with a seasonal population of 36%, there are 10,048 housing units. Of which 5.2% are deemed affordable. Renter occupied units are 12.2% in comparison to owner occupied units totaling 87.8% in accordance with FY2018 data. It can be extremely challenging for an individual or family to locate rental units unless wages are above the median income and the applicant has good credit standing. With regards to housing development, there are risks and substantial costs with unknown results. As an example Ms. Galazzi outlined the general process which involves architectural fees, engineering, legal, staff time and permitting. Costs associated to a perceptual 8-unit development with a 1-year permitting process may require $260,000 in costs with unknown construction costs and unknown public funding. Comparisons of affordable housing related to the type of employment were considered. As previously noted, affordable housing is deemed monthly housing costs exceeding 30% of low-income household's monthly income. A teacher making $60,000 with 100%AMI would expend 30% of monthly income or $1500; an assistant branch manager making $50,000 with 83% AMI would expend 30% of the monthly income with a rent or mortgage of$1250. The scenario of a landscaper was also presented with a $30,000 seasonal income at 50%AMI. Thirty percent of the income per month is $750. Indicators to improve upon housing inventory include zoning reform, by identifying areas for multifamily development and allowing accessory dwelling units. The wastewater investment would improve upon the availability of affordable housing as would the conversion of seasonal homes to year-round homes. In this concept tax incentives and abatements could be granted for year-round rental properties. A town rental vouchers program, and town funding for housing at all income levels was considered as was short-term rental - tax revenue to offset costs to increase housing inventory. If we take action, a local year-round workforce would increase the demand for year round businesses. Professional jobs and businesses could then afford to expand and hire more workers and there would be greater consumer choices and more reasonable priced goods and services.