02/25/2019 BOARD OF SELECTMEN Agenda Packet

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DRAFT#1 N4AY 2019 SPECIAL & ANNUAL TOWN MEETING WARRANT Page 9 The goal of this project is to assist Mashpee residents in one or more of the following areas; • Ongoing short-term rental assistance (12-24 months) • One-time assistance for first/last/security deposits • One-time emergency assistance for rent • Mortgage assistance for short-term (1-3 months) • Down payment assistance for first-time homebuyers Mashpee Veterans will receive first priority for all programs. Second priority is given to those who live and work in Mashpee, and third priority is given to those who live (only) in Mashpee. The Housing Assistance Program was previously funded for a three-year period with CPA Affordable Housing funds in 2012. The program provides support to low income residents and offers support to those in need as a result of prolonged illness, loss of employment, divorce or other family or personal crisis. The Board of Selectmen recommends approval of Article by a vote of The finance Committee recommends approval of Article by a vote of Article To see if the Town will vote, as recommended by the Community Preservation Committee, to appropriate and transfer from the Community Preservation Fund Budgeted for Appropriation Reserve in accordance with the provisions of M.G.L. Chapter 44B §5, the sum of$275,000 for the purpose of funding the Home Purchase Program, including any necessary costs and expenses related thereto as recommended by the Community Preservation Committee, said sum to be disbursed subject to and contingent upon prior execution of a Memorandum of Understanding between the fund recipient and the Board of Selectmen, the terms of which shall be acceptable to said Board of Selectmen, said funds to be held and expended by the Affordable Housing Trust ("Trust") Board of Trustees of said Trust for the purpose of funding Affordable Housing, including any,necessary costs and expenses related thereto, provided, however, that said sum shall be used exclusively for community housing and shall remain subject to all the rules, regulations and limitations of M.G.L. c. 44B when expended by the Trust, shall be accounted for separately by the Trust, and, provided further, that at the end of each fiscal year,.the Trust shall ensure that'all expenditures of said funds are reported to the Community Preservation Committee, or take any other action relating thereto. Submitted by the Community Preservation Committee The Community Preservation Committee recommends approval of Article _by a vote of 6-1-1 (1 abstention). Explanation: The goal of this project is to assist the Mashpee Housing Authority with the purchase of rental property in Mashpee to rehabilitate (if necessary) and rent at affordable rental rates. With CPA funding,the Housing Authority would solicit proposals for the purchase of an affordable home to create a 5-unit Single Room Occupancy (SRO) living arrangement. Each tenant would have a personal bedroom and share the remainder of the living space in the home. This program would be beneficial to those in need of affordable housing requiring one bedroom. Currently,the Mashpee Housing Authority has 74 Mashpee residents waiting for a one-bedroom unit..