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 PROJECT PERMITTING & FUNDING The site at 116 Vine Street is zoned RO (single-family dwelling)which normally permits a single residential unit to be built "by-right" on 30,000 square feet of land. Because of its relative simplicity,the Town's familiarity with it, and the anticipated sources of funds (no outside funders), the Task Force suggests the use of the "Local Initiative Program," (LIP) administered by the Massachusetts Department of Housing and Community Development (DHCD). This is the program used to get LexHAB units on the Subsidized Housing Inventory in the past and for inclusionary units in new subdivisions negotiated by the Planning Board. Because it incorporates a community benefit, a LIP development overrides the existing single family zoning of the parcel by agreement between the developer and the Town. The Board of Selectmen must endorse the LIP application, which underscores the Task Force's consensus building approach. Alternate permitting schemes include pursuing a full-blown Comprehensive Permit or some combination of variances and rezoning. These options would require more time and resources to accomplish. List of permits and/or applicable local bylaws: • Demolition Permit for the existing farm house, which is potentially subject to a 12-month delay from the Historical Commission to allow time for any interested parties to come forward with proposals to preserve the farm house off site; • Order of Conditions which may be imposed by the Conservation Commission with regard to wetlands protection; • Compliance with the Tree Bylaw, which requires compensation for removal of trees above a certain size; • Proposed Local Initiative Program application. The LIP consolidates all local permitting authority into one body,the Board of Selectmen, and allows underlying zoning to be overridden according to the terms agreed between the developer and the BOS. Below is a preliminary outline of anticipated project financing. The Task Force hopes to deliver a project that limits taxpayers' subsidy to approximately$300,000 per unit (including the allocated $600,000 cost of the land). Considerations of context and neighborhood preference have kept the project small, especially as compared to other projects regionally.The State, as well as the private development community has little interest in funding a project this small, as the size and scope of the project has been reduced below the level of consideration for these competitive programs, such as Federal Tax Credits, State HOME funds, etc. At this time the most likely sources of funding are the following: • Local HOME Investment Partnership Program funds; 9