12/08/2022 COMMUNITY PRESERVATION ACT COMMITTEE Minutes

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6 Community Preservation Committee Minutes December 8, 2022 Evan Lehrer Town Planner-Review of iraisal and 751 Main Street Acrluisition Project (continued) A brief discussion followed with respect to Conservation Restrictions. It was noted the application for CPA funding is a joint application submitted by the Mashpee Planning Department and the Mashpee Conservation Commission. It was disclosed the Community Preservation Committee intends to enter into Executive Session to establish a negotiating team for this application. Evan Lehrer Town Planner/Affordable Housing Trus Affordable,_Housng TrustwAlIlication for Transfer of Funds: At their December 1, 2022 meeting,the Community Preservation Committee reviewed the application received from the Affordable Housing Trust(AHT)recommending clarification on several matters. Evan Leher,the Town Planner was present to further review this application. The CPC had requested the AHT condition the use of CPA funds for income levels earning at or below 80%AMI to achieve the 10%affordable housing mandate. Mr. Lehrer indicated that at this time the need for affordable housing is greater than 100%of the Area Median Income (AMI). Although it is anticipated a vast majority would fall within the 80%category,the guidelines as suggested should not be restrictive. A list of guidelines anticipated to be supported by the AHT were outlined in a memorandum addressed to the CPC from the Town Planner dated December 8, 2022. This includes the following; To provide financial support for the acquisition of real property to be used for affordable housing, To provide financial support for the construction of affordable homes by private developers (non-profit or for-profit), Conversion of existing homes and apartments to affordable housing, Increase affordability in existing and future housing development,Develop surplus municipal property for affordable housing,Planning and due diligence such as feasibility analyses to support affordable housing developments, Preservation of properties faced with expiring affordability restrictions, Creation of programs to assist low and moderate income homebuyers, Creation of programs to assist low and moderate income renters, Creation of programs to help low and moderate income families make health and safety repairs as the law permits under the CPA Act and Education and advocacy to advance affordable housing initiatives.