Call to Order: Thursday September 7th, 2006 - 8:00 PM
Present: Doug Storey, Jim Bilancieri, Ed Plante, Mark Duggan,
Kevin O’Brien, Don Taylor
Absent: None
Correspondence: None
1.0 PARTNERSHIP BUSINESS:
1.1 MSA Discussion; Partnership members discussed the recent notification that BAHP Chair, Doug Storey had received regarding Bolton’s actual “Metropolitan Statistical Area”. Kevin O’Brien received word from DHCD, that Bolton was actually part of the eastern Worcester MSA, and not part of the Boston MSA as was previously believed. The MSA is used for setting rents and home prices based on income levels; this is lower than previously thought.
1.2 “PR” Partnership members discussed what it might do in the future to better the “PR” for future affordable housing developments that will inevitably come to town. Citing the fact that small projects are much more amenable to the town than large ones, the partnership felt that some sort of promotion to that effect would be beneficial.
1.3 Trust Fund Board The trust fund board has been established. Jim Bilancieri, Doug Storey and Mickie Simpson have been appointed to the Board along with three Selectmen.
1.4 Compliance
Certification Certification of Compliance with Approved Plan – Bolton has received approval through Dec 2007. Note: the Town needs to add three-quarters of percent new units (11) in each calendar year to remain certified.
1.5 Accessory
Apartment Bylaw New DHCD guidelines were due in Oct. Nothing has been published or approved yet.
1.6 Self Help Grant The joint grant application with Lancaster for Self Help Funds which was proposed to be used for rehabbing existing properties which would have counted in the inventory was denied by the granting agency.
2.0 PROJECT REVIEW:
2.1 Riverside
(Mark O’Hagan) BAHP Chair, Doug Storey told those present that Riverside was now proposed as a six (6) unit development, two (2) of which are designated as affordable. Abutters at a recent hearing were threatening to appeal. Mention was made at that hearing that there was no evidence of any other town board’s support for the project. Doug Storey noted that he had in fact been to several planning board meetings and had clearly voiced the BAHP’s support for this project.
2.2 Kane property
(117/495) Nothing new to report on the progress of this development. The BAHP discussed the possibility of a 40R/40S. However it was noted that a 40R would require rezoning which may increase the density of the project higher than anything previously seen in the area.
2.3 711-713 Main St.
(Drewicz) BAHP Chair, Doug Storey noted that he had received word from the Drezwitz’s that they were withdrawing their unit from the Affordable housing status. In a communication to Kevin O’Brien, the Drezwitz’s noted difficulties in funding the further development of the project, and wanted to get their single residential unit sold as soon as possible.
2.4 Bolton Manor It was noted that the ZBA had approved forty-six (46) units, of which twelve (12) would be designated as affordable housing, The project is still completing its permitting. It was further noted that if this project this not built the town risks loosing 12 affordable housing units from its inventory. The permits that were issued for the project last two years from the date of issue and the developer must show progress in order for the units to remain on the inventory.
2.5 Pondside It was noted that the ZBA approved sixty (60) units, fifteen (15) of which were designated as affordable housing. The BAHP will be sending in for certification this year. The project is in construction now by Toll Brothers.
2.6 Sunset Ridge Finalized twenty eight (28) units, of which seven (7) were designated as affordable housing. The project had allowed the BAHP to receive a waiver for certification through Dec 2007.
3.0 INITIATIVES:
3.1 BWW Deeds
Kevin O’Brien explained to those present that there was an issue with the deed riders on thirteen (13) of the fourteen (14) affordable units at Bolton Woods Way. The deeds currently state that the resale price for each home is based on a two-thirds valuation of the price of a comparable market value home. The Housing Authority, having sold three of these homes in the past few years noted that a 2/3rds valuation exceeds the current $166,000.00 state defined affordable pricing for similar units. During the course of the sale of the last unit, it is noted that the state of Massachusetts EOCD kicked in approximately $30,000.00 towards the sale price of the home, with the Bolton’s HA paying for several hundred dollars in associated fees. In exchange, the deed rider was amended to
state that the maximum resale price of the home would never exceed the State definition for a similar affordable unit. The Partnership and the Housing Authority are going to work together to address these deed issues, Kevin O’Brien will coordinate. It was also noted that the original deed riders expire thirty (30) years after the initial purchase, at which time the home can be sold without encumbrance.
Several open issues need further definition. They are;
o What will the individual mortgage lenders require if the deed riders are re-written?
o Will the bank require each homeowner to re-mortgage?
o What monies are available from the state DHCD?
o What Monies are available from the town?
Next Steps;
o Kevin O’Brien will ask Eileen Griffin to perform a competitive market analysis, (CMA), for the market rate homes that have sold on BWW in the last three years.
o The BAHP & HA need to create an analysis of what the current situation is for the thirteen (13) AH units.
o Kevin O’Brien will request a meeting with the state DHCD to review the issue.
o The BAHP and Housing Authority together, need to illustrate a few options for the Selectmen with regards to what potential paths resolution for this issue may take. ie;
o Status Quo – Deal with it as they come.
o Buy Down – Negotiate a fixed lump sum payment in return for recording corrected deed riders.
o Alternate – Use delta cash from the sale to market rate buyers, (which removes the home from AH inventory), to do something else.
3.2 LIP Apartment
Initiative Jim Bilancieri motioned that the BAHP put some effort into fleshing out this project. Jim noted that Mark Duggan had completed a draft RFP which was drawn loosely from this past May’s meeting conversation. The basic idea is to attract a developer to town that has completed a project like this with success in the recent past.
Next Steps:
o Determine the need for such a project in this area.
o Create a financial model that can be shown to the selectmen as well as to prospective developers.
o Examine the feasibility of utilizing the 40R or 40B legislation for the project.
o Determine what land may be best suitable for such a project.
o Determine whether or note there may be an advantage for the town to include some municipal facilities (police) with the project as well.
o Determine whether or not the Town would contribute monies from the AH trust fund to give the project more appeal to a developer.
o Develop a framework of scenarios at next month meeting to include;
o What
o Where
o How big
o Phased project
o Municipal component
o Determine whether or not the project may be split across two or more sites.
o Call on Developers to float the project.
3.3 Smith Property The BAHP discussed the Smith property and its suitability to serve as a proposed site for the BAHP’s LIP Apartment Initiative. Several members noted that it would be a great place to have a mixed use development, as it would draw foot traffic to businesses in the center of the town and also provide more businesses in the town center. Mark Duggan volunteered to call on Joel Lowtherstein, (Lowtherstein Environmental) to get an informal read on their recent Phase II environment site assessment.
Adjournment: The meeting was adjourned at 9:39 PM
Next Meeting: Thursday October 5th, 2006 – 8:00 PM
Respectfully Submitted,
Mark Duggan
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