06/22/2021 ECONOMIC DEV AND INDUSTRIAL COMMITTEE Minutes

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Mashpee Economic Development Industrial Corporation (EDIC) Special meeting with Mashpee Affordable Housing Committee Minutes —June 22, 2021 6:30 PM ZOOM Meeting and In-person Meeting Mashpee Town Hall Present: Carol Sherman, Pamela McCarthy, Patrice Pimental, Glenn Thompson, Denise Duston, Robyn Simmons Mashpee Affordable Housing Committee attendees: Allan Isbitz, Melinda Baker, Noelle Pina, Mary LeClair Guests (via Zoom): Greg Watson and Nancy MacDonald, Mass Housing 1. Call Meeting to Order Carol Sherman opened the meeting at 6:00 p.m. 2. Mass Housing Presentation Greg Watson presented Mass H ou si n g's programs to increase housing accessibility to people. Workforce Housing: Mass Housing invested $100 million to create rental housing affordable to households with incomes up to 120% of AM I. The program has enabled them to create more units, more quickly, in more places for people who cannot afford or obtain market priced housing. They have funded 40 projects in 19 cities and towns across Massachusetts; on the Cape they have done so in Bourne and Eastham. Commonwealth Builder: This program seeks to incentivize investment in urban areas that have traditionally lacked high quality housing stock to bridge the gap of home ownership between people of color and white people. The program's target Affordability is 70% - 120% of AM I with no age restrictions. The town can get $100K per unit if it is a capped at a per project limit of $3M (30 units of workforce housing). Other programs can also be used (low-income tax credit, etc.).Projects may have a variety of funds but some unites have Mass Housing funds, other units have tax credits, etc. The E D I C will m ove to transf er the parcel of land on Com m ercial Street to the H ousing Trust in the Housing Trust meeting. This will go on the warrant for town meeting. The town will issue an RFP for a feasibility study, which the EDIC will fund. Next meeting: