2010-10-25-CPC-min - Laserfiche WebLink

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housing groups. There was also discussion of establishing criteria for purchasing units if such unspecified appropriations were to be made. Ms. Fenollosa pointed out that the CPC would want some assurance on the issues of rental vs. ownership and maximum purchase price of units. Members also agreed if the CPC were to devote unspecified funds to the group that LexHAB should focus on individual unit purchase rather than the construction of new units such as at the Leary property. There was a discussion of LexHAB’s set aside of approximately $ 1million to eventually buy twenty-six units at Katahdin Woods for inclusion on the Subsidized Housing Inventory (SHI). Mr. Hays stated that LexHAB had had the first part of a report from legal counsel regarding the status of these units as affordable. Whether and when the deed restrictions on these units will no longer be effective is still uncertain Funding from the CPA could augment LexHAB’s savings and make the purchase of the twenty-six units possible at such time as they become available. Mr. Adler voiced his concern that a Housing Trust or unspecified grants to LexHAB might encourage the other three constituencies of the CPA to seek similar arrangements, as well as competition among the housing groups. Mr. Kanter also expressed concern, stating that if monies were given to any entity without strict control, the proposal would not pass Town Meeting. CPC and BOS review would be critical he noted. Members noted that the CPA already requires an annual set aside of 10% of new funds for each of the housing, historic preservation and open space categories. If the CPC decides to make general grants for housing to fund projects to be specified later, it can do so as a “bookkeeping” matter with the allocated amounts to remain in the CPA account until specific projects are submitted.. The Committee voted 4-1-1 (4 in favor, one against and one abstention) to pursue with Town Counsel whether LexHAB might act as a Housing Trust to receive CPA funding for projects to be specified later, or whether this can be handled by allocation within the CPA account. Mr. Addelson, Assistant Town Manager of Finance (who was waiting for his appointment) said he would talk to Mr. Valente, the Town Manager about the proposals. LexHAB will move forward and will submit a proposal for an unspecified grant of CPA funds. 3.Receipt of Self-Help Funds for Cotton Farm – Mr. Addelson announced to the Committee that the Town had heard from the state Division of Conservation Services, and that Lexington had been awarded $500,000 in Self-Help funds toward the purchase of Cotton Farm. Mr. Addelson said he still needed to clarify some of the issues regarding the specifics of the acquisition and how the expenditures were “characterized”. He noted that the 2