Laserfiche WebLink
Breadcrumb Navigation:
Guidelines for timely decision on Housing Trust funds—N-fl"Yated and approved on 7/26/23 <br /> Any of the following, except where "and" or"or" is stated. <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. <br />