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Supportive Living, Inc. Affordable Housing - 15 Units for Brain- Injured Persons Rehabilitation of 7 Oakland Street The former Lexington Press building on Oakland Street will be rehabilitated by Supportive Living, Inc. (SLI) into 15 studio -type, barrier -free rental apartment units for brain - injured adults requiring supportive services. Supportive Living SLI is a nonprofit 501 (c) (3) charitable organization working in partnership with public agencies, businesses, and other nonprofits to raise the quality of life for survivors of brain injury. SLI has successfully developed and operates two similar facilities to date; Warren House in Woburn MA, which opened in 1997 with 15 residents; and McLaughlin House in North Reading, which opened in 2001, with 8 residents. Funding Need - $300,000 Gap To date, SLI has raised approximately $5.9 million for this project from public and private sources, including maximum funding from every available federal and state source of housing monies. SLI is requesting $300,000 from Lexington CPA to close the funding gap and enable construction to commence in May of this year, to be completed in April 2008. SLI will continue to raise capital funds to complete the project. Specifically, SLI will finish the lower level of the Lexington Press building, which is needed for meeting rooms for education, recreational activities, and life skills training which will serve both SLI tenants and provide recreational programming opportunities for Lexington residents with similar disabilities. Benefits to the Town of Lexington • All 15 rental units of the project will count toward the Town's inventory for Chapter 40B (affordable housing) purposes. • CPA monies will be repaid to the Lexington CPA Fund in the event the project is sold_ or ceases to be used as affordable housing. • Every $1 of CPA funding leverages $20 in funds raised by SLI from federal, state and private sources. • Preference for 2 Lexington residents. • Property taxes will be paid to Lexington. • Pedestrian access from Oakland St. to the Meriam St, parking lot This project will also ensure the historic preservation of one of the last of Lexington's industrial buildings. The Community Preservation Committee recommends funding this request.