Laserfiche WebLink
00 <br /> ""W"a w, <br /> IMP. IMBO <br /> w Afforda6Ce Housing Committee <br /> 16 Great Neck RoadJVorth <br /> Mashyee, M-A 0264.9 <br /> Membership <br /> Currently, they have Board positions being filled for Bourne and a Member At-Large. There are <br /> representatives from each of the 15 towns that meet remotely to discuss regional housing <br /> activities and get ideas and opinions from all neighboring towns. <br /> Rental Development <br /> -$600,000 in conjunction with EOHLC funds (Executive Office of Housing and Livable <br /> Communities) <br /> -Rental under LIHTC program (Low Income Housing Tax Credits) <br /> -Conception to completion takes 9 years, some projects may happen sooner. <br /> -Cost ranges from $650,000-$750,000 per unit. Development costs continue to rise. <br /> -Most incorporate at least 10-15 different funding sources. <br /> Example of Funding a Project in Wellfleet-46 Units - 1,2,+ 3 BR <br /> - Costs include federal and state low-income tax credits, developers fees, and solar tax credit <br /> that come after construction, putting their total costs at $20,000,000. <br /> - EOHLC, AHTF, HSF, EOHLC, ARPA, AAHG, CEDAC pay$5,000,0000 <br /> - Local sources: Barnstable County HOME ARPA, CPA, Trust, Nearby town CPA's X3 = <br /> $750,000 per unit <br /> HOME Program Portfolio <br /> - Affordable Rentals 1995-Present: 80 Projects with 2,000 Affordable units <br /> - Homeownership Buydown 1995-2001 : 20 projects, 94 units <br /> - Homeownership Closing Costs Assistance forgivable 1995-2001: 279 units <br /> - Homeownership Closing Costs Assistance time of sale 2001-2018: 371 units <br /> - Homeownership Rehab Program forgivable 2001-2009: 96 units <br /> Shared Regional Housing Service Program <br /> - SRHS is derived from the BCHC Advisory Council. <br /> - In 2023, Barnstable County was awarded ARPA funds for a two-year pilot program from <br /> July 1 - June 30, 2025, then it was extended to August 30t". Numerous stakeholder <br /> sessions resulted in 13 of 15 communities electing for year 3 participation. <br /> - After the RFP, Barrett Planning was selected to serve as the program consultant for year 3. <br /> - Year 3 administration of the SRHS program was transferred to the Human Services <br /> Department. <br /> Barrett created a database for deed restricted properties per town., for towns to then maintain <br /> monitoring going forward. The Affordable Housing Trust data, CPA projects, and short-term <br /> rental reports are all available and were done during the pilot program. <br /> 3 <br />