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Guidelines for timely decision on Housing Trust funds – AHT voted and approved on 7/26/23 <br />Any of the following, except where “and” or “or” is stated. <br /> <br />1. AHT funds would make a critical difference in securing real estate to create or preserve one or <br />more units of subsidized affordable housing. <br />2. LexHAB and/or the Lexington Housing Authority or another affordable housing developer is <br />committed to developing or rehabbing the property and has prepared an Offer to Purchase Real <br />Estate, for review by the LHT. <br />3. The affordable housing developer has provided draft Pro-forma, for review by the LHT, <br />demonstrating anticipated purchase, development costs, and all anticipated sources of funding. <br />4. The loss of the real estate for affordable housing to the private market would <br />a. Measurably set back the Housing Trust’s annual goals/Action plan, or <br />b. lead to a loss of units on Lexington’s SHI, or <br />c. present an obstacle to completing a pending development site that includes affordable <br />housing <br />5. The real estate could feasibly be developed for subsidized affordable housing in the opinion of <br />building code or architecture professional <br />6. Commitment to recording a long-term affordable housing deed restriction or preserve/rehab <br />existing affordable housing on a long-term basis, conditional on recording a housing restriction.