Laserfiche WebLink
1 <br />MASHPEE ZONING BOARD OF APPEALS <br />APRIL 8, 2015 <br />MEETING MINUTES <br />• <br />2) The Term of this Regulatory Agreement is 30 years, however, the affordability <br />requirements established by the CP must be maintained in perpetuity. The terms <br />and requirements of the CP will survive the expiration of the Regulatory <br />Agreement, thus, the Developer will have to provide an alternative regulatory <br />scheme satisfactory to the Board upon termination of this Agreement; <br />Mr. Feronti asked if Town Counsel wants the frame work in place before the <br />expiration or is he pleased how this agreement itself is written and just wants to see <br />what happens in 30 years. Mr. Furbush said he needs an alternative regulatory <br />scheme for 30 years now. <br />3) The Rent Schedule figures for the subject units have to be incorporated into <br />Appendix A to the Agreement. <br />Mr. Feronti said; "the rent schedule is now Appendix B." <br />4) I note that the CP provides, at Condition 21 that in addition to the affordability <br />criteria established therein, there is also a Mashpee resident preference criterion. In <br />my opinion, the Town may enforce this CP condition whether or not it is <br />specifically set forth in the Regulatory Agreement (which acknowledges and <br />• affirms the terms of the CP), however, the Board may want the developer's <br />representative to acknowledge this requirement at this time to assure its intent to <br />comply therewith. <br />Mr. Feronti said; "the legality who will be placed in preference to the lottery system <br />will need to be addressed by both Bob Engler and Mashpee Commons' Attorney to <br />make sure that they are establishing the correct information." <br />5) While not a critical point, the CP (back in 2007), at Condition 22, notes that <br />CHAPA will be the Monitoring Agent for the Project, however, it does also <br />acknowledge that Mass Housing may perform certain monitoring functions, thus, I <br />don't deem the monitoring terms of the Regulatory Agreement to be "inconsistent" <br />with the CP in that respect. <br />Mr. Feronti stated that CHAPA is no longer involved and that Mass Housing is the <br />monitoring agent and will confirm this. <br />Items I and 3 were addressed and completed. <br />Items 2 and 4 are more legal points that need to be addressed. <br />Item 5 is a bookkeeping item. <br />The last page of the Regulatory Agreement is the "Acknowledgement' that needs to be <br />• signed. Mr. Feronti will consult with his Attorneys and will forward the information back <br />to the Board as soon as possible. <br />7 <br />