2011- 12-01-CPC-rpt (Needs Assessment Report)

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NEEDS AND GOALS Preservation and support of existing community housing. An ongoing goal is the preservation of existing community housing by addressing needed capital improvements that go beyond normal maintenance, such as the following recent projects: • Installation of drainage structures and replacement of failing siding at Vinebrook Village; and • Replacement of windows and roofs at Greeley Village, (both projects managed by the Housing Authority). Both locally and statewide, the demand for housing affordable to low and moderate income residents exceeds supply. The lack of such housing leads to a loss of diversity at the local level and a loss of population at the state level as individuals and families abandon Massachusetts for more affordable areas of the country. The State has sought to foster the creation of affordable housing through M.G.L. c.40B, which mandates that each municipality have a minimum of 10% of its housing stock in the affordable category in order to avoid the potential imposition of housing developments that do not conform to local zoning bylaws. The Town of Lexington is currently in compliance with the 10%requirement of State law. Nevertheless, as more market rate housing is constructed, and as price restrictions on some currently affordable housing units expire, the Town could easily drop below the 10% threshold, allowing a developer who allocates 25% of a residential project to affordable housing to avoid being subject to the density and siting restrictions of Lexington's Zoning Bylaw. This provides a practical incentive for the Town to continue to add affordable units to its inventory. It is important to recognize, however, that an adequate stock of affordable community housing is an important Lexington goal independent of the desire to avoid overly dense or otherwise undesirable housing developments. Beginning as a farming community, Lexington has developed over its almost 300 years to become a suburban residential and commercial center with a population that is both ethnically and economically diverse. After World War 11, it attracted a large number of residents involved in academic and scientific pursuits at nearby universities. Since then, its excellent schools and other amenities have continued to draw new residents, many with origins outside the United States. While average household income in the Town is well above the State average -- $144,000 for Lexington in 2010 -- Lexington's profile has not been based primarily on the high price of admission, that is, expensive housing. The Town has evolved as a place of academic and professional achievement with a commitment to diversity and shared community involvement. The commitment to providing a range of housing opportunities is a part of the Town's character. 8