2018-Annual Town Report - Laserfiche WebLink

Home Browse Search

was constructed under a comprehensive permit, the no "eligible" purchasers and no "non-eligible" price. property does not contribute to the Town's afford- While the property was constructed under a compre- able/subsidized housing inventory. The purchase of hensive permit,the property does not contribute to the the restriction to persons who make 80 percent of the Town's affordable/subsidized housing inventory median area income would increase the Town's because only properties restricted to 80 percent of the affordable/subsidized housing inventory by adding the median area income qualify for the inventory. The property to it. article provides authority for the Board of Selectmen to release the restriction in exchange for Ms.McBrien The Board of Selectmen does not recommend providing a payment of all funds in excess of the approval of Article 18 by a vote of 4-0-1. resale price for the Affordable Housing Trust. A release of the restriction under the proposed article The Finance Committee does not recommend will provide needed funds to support affordable hous- approval of Article 18 by a vote of 5-0-1. ing and not impact the Town's attempts to attain the ten percent affordable housing goal of M.G.L.C.40B. Motion made by Petitioner Kathryn McBrien Donahue. The Board of Selectmen recommends approval of Article 19 by a vote of 4-0-1. Motion: I withdraw Article 18. The Finance Committee recommends approval of Article 19 Article 19 by a vote of 4-0-1. To see if the Town will vote pursuant to M.G.L. Ch. Motion made by Petitioner Kathryn McBrien 40 to authorize the Board of Selectmen to release and Donahue. extinguish a 120 percent moderate income restriction on a real property identified as 37 Center Street, Motion: I withdraw Article 19. (Mashpee Assessors Map 36, Parcel 47D) and recorded in the Land Court Department of the Motion made to adjourn Town Meeting passes Barnstable Registry of Deeds as part of Document No. unanimously at 8:06 PM. 1,021,017 in consideration of the payment of all funds in excess of that allowed under the resale provisions of the deed restriction to the Mashpee Affordable Housing Trust for purposes of developing affordable housing, and to authorize the Board of Selectmen to prepare and execute such agreements,deed,and other instruments necessary to effect such transfer upon such terms and conditions as the Selectmen shall - - deem to be in the interest of the Town. Submitted by Petition Explanation: The 37 Center Street condominium was built pursuant to a comprehensive permit issue under ' M.G.L. C. 40B. When it was sold to Ms. McBrien, a deed restriction was placed on the property limiting the resale price. It also requires that it be marketed first through the Housing Assistance Corporation (HAC)to persons who make no more than 120 percent of the median area income and if unable to be sold through HAC, could be sold to a "non-eligible" pur- chaser, but would remain subject to the restriction. HAC did not attempt to market the property as it has 62