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OLD BUSINESS <br /> 950 Falmouth Road <br /> Currently, POAH, Inc., the designated developer for the project, is in a holding action awaiting <br /> funding decisions from the town and the state. All the necessary funding applications have been <br /> submitted. One application to the Trust is for a grant under the Community Preservation Act. The <br /> mandatory 10% set-aside for affordable housing under the CPA has already been transferred from <br /> the CPC to the Trust. A second application is to the Barnstable County Home Consortium. Both <br /> applications are for$300,000. <br /> Favorable action on both local funding sources is an essential sign of local support, which is <br /> necessary to get a favorable funding decision from DHCD. DHCD funds for the project would <br /> include tax credits valued at over$10million, plus other DHCD program sources potentially valued at <br /> over $2.5 million. Favorable action on these programs is necessary to build the project. <br /> Because of the number of affordable housing projects across the state, most of which require state <br /> funds, these funds are in high demand and there is typically a wait of a couple years or more for <br /> projects to get awarded the program funds they need from DHCD. Chairman Isbitz does not think <br /> the project will get funded in the round that close in February. However, there is a mini round that <br /> DHCD conducts in the second part of the year. The mini round opens in August, and final <br /> applications are due in October. Corey Fellows, POAH's Project Director, said the objectives of the <br /> mini round fit the 950 project very well. The project is now ready to break ground once funded, and if <br /> POAH can show they have commitments for these two local sources, then there is an excellent <br /> chance of getting fully funded before the end of year. <br /> If the 950 project does get fully funded this year, POAH could break ground in 2022, and by 2023 <br /> people would be living in the building. This is exciting! But this may happen only if the local funding <br /> awards are made before August when POAH must submit a pre-application to DHCD. Allan will <br /> check with the Assistant Town Manager to urge him to arrange for a Trust meeting for June to act on <br /> the CPA funding it has. <br /> Wampanoag Village <br /> Town of Mashpee is considering the possibility that the 42 units in the project might count towards <br /> the town's 10% Chapter 40B goal. Mr. Isbitz noted this would require an agreement between the <br /> Town and the Tribe to apply jointly to DHCD for a decision whether the project would be eligible. <br /> Recently, he had a productive talk with Ms. Shellie Tobey, the Housing Director for the Tribe. Ms. <br /> Tobey said any effort to do this would have to wait until after the Tribal election being held on May <br /> 16th. Following the election, we will try to determine if there is a way the Tribe and Town can work <br /> together to determine whether Wampanoag Village development is eligible to be included on the <br /> DHCD Subsidized Housing Inventory for Mashpee, and count toward its 10% Chapter 40B goal. <br /> Mashpee Commons <br /> There was not much to report on the chapter 40B project at Mashpee Commons They have <br /> completed 32 units and have 20 more units they are committed to build but stopped because of cost <br /> overruns. A schedule for building the rest of the units will probably be settled in conjunction with an <br /> agreement on the Mashpee Commons expansion plan. We are hopeful that Mashpee Commons <br /> will make a significant commitment to affordable housing as part of their plan. There is an <br /> 2 <br />