12/10/2003 ZONING BOARD OF APPEALS Decisions

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5 9. The five affordable units, as designated by the Applicant, shall be restricted, in • perpetuity, as low or moderate income housing for sale to households earning no more than eighty (80%) percent of the median household income for the area, as may be determined by reference to statistics compiled by the Department of Housing and Community Development or the Federal Department of Housing and Urban Development or the successor agencies thereto. Additionally, a sixth unit, as designated by the Applicant shall be restricted, in perpetuity, for sale to households earning no more than one hundred and ten(120%) of the median household income for the area. The affordable units shall be indistinguishable from the market rate units on the exterior. 10. No building permits shall be issued until the execution of the documents that are necessary to ensure affordability and profit limitation. Such documents shall include a Regulatory Agreement and Monitoring Services Agreement and shall be submitted to Special Counsel for review and approval. No building permits shall be issued until the Special Counsel has approved the form of the Applicant's deed rider(s) for the affordable units. 11. The maximum number of units allowed by law, but no more than seventy (70%) percent, of the affordable units shall be reserved for present residents of Mashpee, or the children of present Mashpee residents, or the parents of present Mashpee residents, or employees of the Town of Mashpee or teachers employed by the school district serving Mashpee. A lottery shall be established in a form approved by • Special Counsel to effectuate this local preference. 12. The Board shall choose a Monitoring Agent with requisite experience to undertake the duties under the Monitoring Services Agreement. The Applicant shall be required to maintain status as a limited dividend entity. In the event that profit is deemed by the Monitoring Agent to exceed profit limitations, the Applicant shall ensure and provide evidence that it maintains sufficient assets to meet its obligations under Regulatory Agreement with respect to the payment of excess profits. In the calculation of costs of development, the Applicant shall be limited only to its actual costs and investments. 13. At a minimum, one out of every four units sold shall be an affordable unit. Upon the sale of any affordable unit, the Applicant shall provide the Board with a copy of the recorded deed rider. 14. The applicant shall submit, for Special Counsel's approval, all corporate, trust or association documents that are necessary in order to maintain the roads, storm water management system and any other common facilities of the project. The Board's engineer shall approve the maintenance schedule for the storm water system. Documents governing maintenance shall contain a permanent guarantee by the owners, which shall provide for mandatory assessments for any necessary maintenance expenses. • 15. The stormwater management system shall be designed to meet or exceed all best management practices and the Massachusetts Stormwater Management Guidelines. Construction of the stormwater management system shall not commence until the