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CHARGE TO THE MU22 EY SCHOOL CONVERSION COMMI TEEE Publicly assisted housing for the elderly Non-"assisted "affordable" housing for the elderly Publicly assisted congregate housing for the elderly Non -- assisted 11 affordable" or market rate congregate housing for the elderly Affordable "starter" units for young couples "affordable" units for one - parent households Publicly assisted housing for families Non - assisted "affordable" housing for families The Commiteee shall prepare and review specifications for receipt of pro- posals for the purpose of sale, transfer, lease or other appropriate use of. the Muzzey Junior High School within the following guidelines: 11 only non- commercial use will be considered. 2. The top priority in the dispostion of this property is to provide housing for the Town of a type that is needed but not currently available. Natur- ally, proposals offering a financial return as well as meeting all other criteria for development will receive more favorable consideration. 3. The following types of housing would be considered appropriate for this development : . Preferably the "affordable" units in the building would conform to the MHFA price and income guidelines for'its first home buyer program as follows:' Size of Famil Maximum Annual Income One Two Three Four $25,500 28,500 30,000 31,500 Some market rate units may be provided if necessary to lower the cost of the majority of units. 4. A mix of residential uses, i.e., congregate, starter units, elderly and family use would be acceptable and encouraged where feasible. 5. The Town would entertain either cooperative, condominium or rental units provided there are acceptable guarantees in deeds, mortgages or leases that assure the Town that all "affordable" units will remain in the "affordable" category referenced above. 6. Management control of either congregate, coop, condo or rental development must be so structured that the Town remains protected and the development in the building continues to meet Town expectations as the units are ac- quired by successive "generations" of occupants. 7. To the extent possible under the law preference for the facilities pro- vided in the building wil be given to people involved with Lexington through current or prior residence, current employment or other significant and demonstrable connection. 8. The Committee will encourage developers to consider alternative ownership and financing mechanisms such as limited equity condominiums, cooperative association, non-profit sponsorship and MHFA financing in order to achieve these goals.