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16 Great Neck Road North <br />Mashpee, Massachusetts oz649 <br />Workforce Housing Needs in Mashpee <br />- Labor shortages on Cape Cod and housing and land cost increases, created stress on higher income <br />levels as well. <br />- 100% AMI and 120% AMI renters: 2015 gap figures show the shortages for these income groups. <br />- This is a 2017 source, the needs have not increased substantially in lower income groups, and there <br />is no one who will stay here as they cannot afford to live here. <br />- 120% AMI level shows significant increase, that has almost doubled projected 2025. <br />- Owners in the 100% AMI in 2015: (teachers, firefighters, municipal administrators etc.) That's where <br />the labor shortages are. Increasingly, we cannot ignore both ends. <br />- To get a balanced economy we need to focus on the 100% as well. A gap of 4,000 units as part of the <br />need. The need has been growing without the resources following suit. The problem gets worse and <br />worse. No funding incentives for housing to appeal to this group. Increasingly, developers are picking <br />this up. <br />2021 Household income levels for affordable and workforce <br />- Low income workforce: $58,000- $77,000 <br />- Moderate income level: $107,000 <br />- 60% AMI - 80% AMI workforce, there is an overlap. HUD or agencies providing assistance in that <br />range are calling it 'workforce housing'. <br />MASS Housing Workforce Housing Initiative <br />This has been done in Orleans, Bourne, and Falmouth. The Red Brook Village developer has <br />experience with workforce housing in Falmouth. We have developers on the Cape that have done this <br />before. MASS Housing will provide up to $100,000 per unit for a workforce unit. It costs $400,000 per <br />unit. Up to about 25% of the unit can be covered by public funding. <br />AFL-CIO <br />Housing investment trust for a few decades, they are committed to workforce housing. Also involved in <br />affordable in 80%AMI or lower with a strong commitment to union labor. They invest and employ union <br />workers to build and reside in this housing. There is $6.8 Billion in this trust and they have financed <br />$9.3 Billion in construction, included workforce. This is a viable source of money for tax credits. <br />Mashpee Affordable Housing Goals <br />- Affordable Housing for very low and extremely low income renters, typically multifamily rental. <br />- Workforce housing for low to moderate, homeowner could be housing or rentals. <br />- We are currently waiting for the hired consultant for the HPP to do their studies. <br />Discussion relative to housing needs moving forward and strategies to address those needs. <br />Ms. Waygan would like to share comments, she noted that was a great overview. Ms. Waygan admired <br />his graphs and would like to use some of them. She watches the news on affordable housing. She <br />asked if Mr. Isbitz has read the Affordable Housing Bylaw for Falmouth. It's very simple. They did some <br />6 <br />