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16 Great Neck Road North <br />Mashpee, Massachusetts 02649 <br />Housing supply shortfall for families with less than 80% AMI 2010 <br />- Extremely low - 760 families — could not afford any homes at all, 72 rentals available, 688 units short. <br />- Very low — 655 families — 290 homes affordable, 466 rentals affordable, 199 units short. <br />- Low Income —1005 families — 550 affordable homes, 371 rental units, and 81 units short. <br />- Need for 2010: 968 homes/ rentals short <br />- The current need in Mashpee is at least 1,000 units. <br />Affordable Housing in Mashpee 2010 SHI Eligible Units Ownership vs. Rental <br />- Meets the three criterias <br />- 4.9% SHI Total units: 6,473. 10% is 647. 298 were affordable <br />- Owner occupied: 5,030, Rental occupied: 1,088 <br />- Homeowner units produced 36 affordable units, which is 7%. <br />Renter occupied units produced 262 out of 1,088, that's 24%. <br />- Better strategy to meet the real need is to invest in rental units rather than home owner units, get <br />more for your money. To meet the need you have to focus on rental housing. <br />SHI 2020 <br />- None of the towns have reached 10%, Provincetown is the closest. <br />- Since 2010, we have increased in our ranking, 343 affordable units, sixth highest. Mashpee ranks in <br />the middle. <br />- Rankings aren't what we should be looking at if we are talking about meeting the need. <br />Who is building Affordable Housing in Mashpee? <br />What is the proposed and what is likely to be built? <br />- Mostly 40B <br />- In some cases, there are second phases to projects, but not all these projects in the pipeline develop <br />into fruition. It takes years to get through construction and occupancy phase. <br />- Add up all that are currently being worked on by the developers, plus the ones where the sites are <br />about to come into play like 108 Commercial Street: 533 units of future affordable, 21 estimated <br />homeowner, 227 affordable. Eligible for SHI under 408: 521 units. <br />If we built all of that, we would still be short. <br />Chairman Fulone noted the need in 2010 was 1,000 units. Even if we built everything available, we <br />would only be halfway there. <br />Mr. Isbitz stated there are currently 340 units on the SHI that are done and occupied, added to this <br />would equal 900 units, we would still be short. We know all of these units will not be developed. To <br />name a couple, Cotuit Road and Main St. Village phase two look like they won't happen, at least 16 <br />units that will not get built. It is hard to estimate the rest to be built at this point. We are short. These are <br />all the resources, Town owned land mostly. We really need the private sector to step up to meet our <br />goals and needs, which is a partnership. That's how it has been happening on the Cape, as long as the <br />private sector is meeting the need. That's where the application and negotiation takes place. <br />5 <br />