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5 <br /> Board of Selectmen/Affordable Housing Trust <br /> Minutes <br /> November 4, 2019 <br /> JOINT MEETING: AFFORDABLE HOUSING TRUST (continued) <br /> Discussion of Sales and Status of the Center Street Affordable Housing Units: <br /> The Affordable Housing Trust met with Gail Kelleher of the Housing Assistance Corporation(HAC)to <br /> discuss the Center Street affordable housing units,property located off Route 130 near Cape Cod Coffee. <br /> Ms. Kelleher indicated that currently the (2) affordable housing units are for sale at property identified as <br /> 24 Center Street, Mashpee. The properties are deed restricted as low income affordable housing. Both <br /> sellers are in a situation that is deemed desperate and with lack funds the added condominium fees are <br /> scheduled to rise. The units have been listed as MLS since May at the maximum resale price of$189,000 <br /> based on the restriction, which is more than market value. The market rate for the condominiums is <br /> $175,000 per unit. To date, there has been no interest from eligible buyers. <br /> In accordance with the deed restriction on the subject properties, if an eligible buyer is not found within a <br /> 6-month time period,the deed restriction will be discontinued. After the 6-month term, the town would <br /> have the option to purchase the properties, and place them for sale as affordable with a new deed <br /> restriction. With regards to the 6-month duration, it was agreed that clarity would be obtained regarding <br /> the commencement of the regulated time period. <br /> Discussion followed with regards to the dire need for affordable housing in the Mashpee community. It <br /> was agreed the Affordable Housing Trust would table this discussion to obtain further information from <br /> Town Counsel regarding the potential purchase to save the units for affordable housing, and of options to <br /> form a new deed restriction. Funding exists in the AHT budget that would allow the Trust to purchase <br /> the units reasonably. <br /> Motion made by Selectman Sherman to authorize Town Manager Rodney C. Collins to begin the <br /> process to acquire and lease the (2)Affordable Housing units at 24 Center Street, Mashpee. <br /> Motion seconded by Selectman Cotton. <br /> VOTE: Unanimous. 6-0. <br /> Roll Call Vote: <br /> Selectman Gottlieb,yes Selectman Cotton,yes Selectman O'Hara,yes <br /> Selectman Sherman,yes Selectman Weeden,yes <br /> Finance member Richardson,yes Opposed, none <br />