2014-12-00-CPC-rpt (Needs Assessment Report)

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Town of Lexington Community Preservation Plan Community Housing BACKGROUND The majority of Lexington's population is in the middle-income category, earning over 80 percent of area median income. Updated in May 2014, Areawide Median Income for a family of four in the Boston region was determined by the U.S. Department of Housing and Urban Development (HUD) to be $94,100 in FY 2013. Eighty percent of the Areawide Median Income for a family of four in the Boston region was $67,350 for the same period. (Due to HUD's complex formula for determination of this 80% figure, it is not just simple arithmetic.) About 1 in 5 Lexington households falls into the moderate-, low-, or extremely— low income categories. Lexington is faced with a declining population in the 18 to 44 age group. High housing costs make it difficult for young people to afford a home in Lexington; the median sales price for a single family home has reached an all-time high of $829,000 as of the end of 2013. At the same time, the population over 65 is on the increase. Members of this group often live on fixed incomes. There is a clear need to create affordable rental and ownership opportunities for young families and senior citizens who fall into the low-income or moderate -income categories. Lexington has three housing organizations that are advocates for low and moderate income housing. Lexington Housing Authority (LHA) The Lexington Housing Authority was established in 1968 pursuant to Chapter 121B of the General Laws of Massachusetts. Its role is to provide safe, clean and affordable housing for low-income individuals and families, including veterans, the elderly and the disabled. Housing units administered by the Housing Authority are supported by either State or Federal funds. Since 2007, CPA funds have been used for capital expenditures to ensure that these units are safe and functional.The Housing Authority is governed by a five -member Board of Commissioners, four of whom are elected by Town voters and one of whom is appointed by the Governor. Lexington Housing Assistance Board (LexHAB) In 1983 the Lexington Housing Assistance Board, Inc. was established by an Act of the General Court as requested by Town Meeting and the Board of Selectmen. The immediate impetus for LexHAB's creation was the conversion of the former Muzzey Junior High School to affordable housing. The charge to LexHAB was broadly framed to enable it to look beyond the Muzzey units in order to provide housing for young families and other residents who could not qualify for housing provided by the Housing Authority or for whom no LHA