Housing Committee Public Hearing
Minutes
March 30, 2005
7:30p.m.
Present: Steve Schwab-chair, Thaw Malin, Josh Scott, Bill Randol, Jim Feiner, Zee Gamson, Deborah Cini.
Public: see attached list. There were 28 people counted as being present but not all signed the attendance list.
Steve Schwab opened the meeting at 7:30p.m. The focus of this meeting was strictly on the Middle Line Road financials. John Abrams gave an overview of the financial plan. (See attachments) The rentals would be self-supporting and would probably not require funding from the town. There is a 1.39 million funding gap that could be filled through private donations, fundraising and state programs. Concern was raised about what would happen if the project went over budget. Warren Doty responded that with careful planning we could stay on budget.
William Randol computed numbers for the mortgages for the Homesite properties. Here are his estimated monthly mortgage payments for 2 income levels:
$880 per month for less than 100% of median income. (Affordable)
$1405 per month for less than 150% of median income. (Moderate)
These figures apply to the average purchase prices of the 1,2, & 3 bedroom homes shown on page 9E. They assume 80% financing, 6% interest rate and 30-year mortgage.
He also estimated average rents for 2 income levels:
$1,113 per month for less than 100% of median income
$1,715 per month for less than 150% of median income.
These figures apply to the average purchase price of the 1, 2, & 3 bedroom homes shown on page 9D.
After finances were discussed, the hearing turned to other issues. Road maintenance was discussed. The town does not own the road but owns the travel rights to it. The town has agreed to maintain the road in conjunction with a road association of homeowners on that would be created when Middle Line is finished.
Concern was raised as to covenants for maintaining the homes in conditions that would satisfy abutters and neighbors. It was felt that there is precedence set with covenants currently on the island and that it would be considered.
The idea of building only rental units was discussed. Concerns were raised about maintaining control over the property, the care of the homes and how to preserve the land for the future. Last summer’s survey of residents showed that there is a large majority in favor of a mix of rentals and home ownership. Concern about the expansion of the property was also addressed; there is no room in this plan for expansion.
A letter from Molly Flender was read into the minutes, as was a letter from Alex Preston.. (See attached) One response to Mr. Preston’s letter was that the Community Preservation Committee had already earmarked 75% of the funds for affordable housing. Chilmark needs young families able to stay in this town and essential personnel are coming from other towns. The school is half full and needs an infusion of children.
Warren Doty responded to an editorial in the Vineyard Gazette referring to "roadblocks" to progress on Middle Line placed by selectmen. He asserted that the selectmen want to accomplish this project. Tip Kenyon stated that it seems as if the project has been delayed and he would like to see it move at a quicker pace.
The next step is to set a date for the Special Town Meeting date when existing funds from the Community Preservation Act would be allocated for the next phase, architecture and engineering.
These minutes respectfully submitted by Deborah Cini
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