2008-12-01-CPC-min - Laserfiche WebLink

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asking the CPC to preserve the building, which irrespective of its use, needs to be done. Ms. Weiss asked if there would be a Historic Structures report as part of the $271,660, to which Ms. Rawson replied that there would be. Mr. Adler questioned whether the renovation of the Stone Building for a Heritage Center would preclude the Town qualifying for any grant monies that would otherwise be available to the library. Ms. Rawson said that the Town does receive such funds, but only for the Carey Memorial Library. Mr. Goddard briefly updated the Committee on the status of the fire suppression work at the Monroe School (funded in 2008). He said the bid had been protested by the bidders for lack of clarity, and that new documents had to be prepared. The th. new documents have been sent out, and bids are expected back in by January 14 3.LexHab Purchase of Three Properties – Mr. Hays commenced his presentation by stating that the CPC had funded the purchase of three condominium units at Parker Manor. He said LexHAB would be seeking 80% of the funding price for an additional three units this year. He described each of the properties, which included a tear-down, a standard home, and a condominium unit. The first property was located at 300 Woburn Street, and is selling for $325,500. Mr. Hays explained that the home is in poor repair, and will be demolished and replaced with a standard LexHAB cape cod style home. He said the Rotary and Minuteman Vocational Tech, would be used to provide manpower for the reconstruction. The second property was at 104 Emerson Gardens, and was a straightforward purchase of a condominium unit. Mr. Hays said it was a single bedroom unit, and was located on the first floor, which was beneficial for the elderly or a handicapped individual. This unit has been purchased by LexHAB for $250,000. The third property was on Ross Road off Massachusetts Avenue, and was valued at $395,000. The house was lost to the bank, but not yet in foreclosure. Mr. Hays said he felt that LexHAB could wait out the foreclosure and hoped to purchase the home at a reasonable rate. He added that the house was structurally secure and on a desirable lot, which made it an attractive purchase. There was a general discussion of the applicability of the 40B process, and whether the CPC funded properties would qualify as low and moderate income properties. Mr. Hays told the Committee that LexHAB would make every effort to structure the agreements for the three FY 2010 purchases so that the units qualified as low and moderate housing under the provisions of 40B. Ms. Weiss affirmed that there will be restrictions on these upcoming properties that would prevent them from being sold out from under low and moderate income restrictions. Ms. Weiss added that she wanted to see if the Parker Manor units could be similarly restricted. In response to a question from Ms. Fenollosa, Mr. Hays gave the Committee a brief update on LexHAB’s potential purchase of units at Katahdin Woods for low and moderate housing. 3