1986-02-BOS-min - Laserfiche WebLink

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f - 4 - The Board of Selectmen has considered certain aspects of the above - referenced project based upon information supplied by the proponent, the Planning Board and staff ; _ and a consultant who was engaged on our behalf to analyse some of the financial implications of the proposed development. we offer the following comments an& suggested conditions to be included in a comprehensive permit, should your board determine to approve the application. At the outset we wish to recognize that the density of the proposed project Is far greater than that which we would expect Town Meeting to approve if this were a conventional multi - family development requiring Town Meeting action. The applicant, in a letter to the Chairman of the Board of Selectmen dated December 5, 1985 (included in the application as Exhibit K), made certain offers to the Town, which have been confirmed and /or modified in a letter dated February lo, 1986, copy attached. These offers, and other terms the Board deems appropriate, should be stipulated in a permit as follows: 1. The applicant shall, at the expiration of the "lock --in" period, or at such other time as units are offered for sale, make available for purchase by the Town or an agency it designates, 26 units of low and moderate income - housing (as those terms are defined in the regulations of the TELLER program), comprised of 8 one - bedroom; 12 two - bedroom; and 6 three -- bedroom units. The price of each unit shall be the proportionate development cost of such unit plus an amount equal to the capital gains tax attributable to such sale. The applicant shall within six months of the date of the completion of the project, which shall be defined to mean the date on which all units are occupied, advise the Town Manager of the cost of the various types of units together with an explanation of the method used to compute the costs and the financial records of the applicant shall be available for inspection by such individuals as designated by the Town Manager. 2. If the applicant elects to continue operation of the development as rental housing beyond the expiration of the "lock -in" period, the low and moderate income units shall be maintained as low and moderate income units; provided, however, that the Town or an agency it designates may purchase the low and moderate income units at the price defined in paragraph one above whenever they are offered for sale or five years after the end of the "lock -in" period, whichever is sooner. The applicant shall be responsible for payment of all costs associated with the transfer of the units to the Town. low 3. All site improvements, landscaping and access ways shall be constructed in accordance with the plan to which this permit refers, or to such other revised plan as the Board of Appeals may subsequently approve. The construction details of the buildings may be different than shown on these plans but they must conform to the State Building Code. The buildings shall be in the approximate locations as shown on the plans and the general appearance of the dwelling with respect to massing, exterior materials and detailing as shown on the plans shall be maintained. Prior to the issuance of a building permit the applicant shall provide documentation, satisfactory to Town Counsel, that he has the right to construct a means of direct access to Hartwell Avenue. Now The Board of Selectmen would consider the inability to obtain access off Hartwell Avenue to be a substantial change.