Leary Property Community Housing Task Force 2011-05-25-LEARY-rpt (FINAL)

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LEARY PROPERTY COMMUNITY HOUSING TASK FORCE FINAL REPORT MAY 25, 2011 RECOMMENDED DEVELOPER Because LexHAB has successfully provided single and double units of affordable housing to Lexington over the past 20 years, it was the first"developer" considered by the Task Force for this project. However, as this project is somewhat larger than typical LexHAB projects in the past,the Task Force considered alternative developers. The Task Force, which includes two LexHAB members, met with a number of developers with experience in affordable housing projects. Their pro bono contribution to the process should be acknowledged. Very early in the process, Sasaski and Associates provided us with several hours of pro bono site planning work. The Task Force met with the Metro West Collaborative Developers (MWCD), a new organization formed by two area community development corporations of which the Town is a member, for pro forma and development programming advice. Later in the process the Task Force invited Transformations, Inc, a private housing development firm that specializes in green energy building and affordable housing, and Oxbow Partners, another private developer,who recently redeveloped a site for the Town of Wayland as a 16-unit affordable development. Ross Speer, a Lexington resident and architect, sat in on several meetings, and lent the Task Force his expertise as well. The information obtained from these experts was very helpful in laying out possible development scenarios for the Leary housing parcel, and setting parameters for design, density and cost. In the end, however,the Task Force agreed that LexHAB was its first choice as developer. While this project is not one that LexHAB can develop under its usual partnership arrangement with the Rotary Club and Minuteman Technical High School, LexHAB has expressed an interest in increasing its development capacity through strategic partnerships with other groups, such as the Housing Authority or one of the developers listed above. While larger than the projects typically undertaken by LexHAB, this is still below the size of development that would attract broader interest from the development community. The Task Force feels that because of its established position in the community, its record of accomplishment, and its willingness to take on the challenge, LexHAB should direct the redevelopment of the parcel and ultimately own and manage the site. LexHAB has arranged for and is funding the initial site surveying work. When planning funds recommended by the Community Preservation Committee were not appropriated by Town Meeting, LexHAB offered to support this predevelopment work. It has also begun exploring potential partnerships to secure a general contractor for the project. 8