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2012-04-02-CPC-ATM-rpt
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2012-04-02-CPC-ATM-rpt
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Minutes - CPC - Community Preservation Committee
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ARTICLE 8 (g) <br />(cont.) <br />Guidelines for the Use of CPA Funding by LexHAB <br />The following are guidelines agreed upon by the Community Preservation Committee, LexHAB and <br />the Board of Selectmen for the acquisition of affordable units with Town CPA funds. <br />1.)All units purchased with CPA funds shall be submitted for inclusion on the Subsidized <br />Housing Inventory (SHI). <br />2.)Each acquisition shall increase the affordable housing stock. Monies shall be spent only on <br />acquisition or rehabilitation of a unit that results in an addition to the pool of affordable units. <br />3.)Units to be purchased shall be one or two family (single, duplex or <br />condominium unit). <br />4.)The size of the units may be up to 1,500 square feet of habitable space. <br />5.)If LexHAB builds the unit, the size may be 3 bedrooms, expandable to 4. <br />6.)LexHAB shall try to purchase dwellings on public bus routes, including Lexpress Routes. <br />7.)Total CPA funds expended for a unit of housing, including legal and professional services, <br />whether built new on purchased land or purchased and renovated, shall not exceed $525,000. <br />8.)Efforts shall be made to maximize energy efficiency in each unit. <br />9.)As a general policy, CPA funds shall not be expended for the demolition of any houses listed <br />or pending listing on the Cultural Resources Inventory. <br />10.)When LexHAB identifies a housing unit or land for acquisition, it shall submit a proposal to <br />the CPC and the Capital Expenditures Committee for comment prior to submittal to the <br />Board of Selectmen. Approval by the Board of Selectmen is required for any LexHAB <br />purchase of a unit or of land. <br />11.)CPA funds appropriated to LexHAB by Town Meeting shall be identified in a specific <br />MUNIS account. Expenditures against the account shall be submitted to the Town Manager, <br />with a copy to the CPC Administrative Assistant. <br /> <br />12.)Funds remaining in the LexHAB account may be carried over from year to year for <br />subsequent acquisitions of affordable housing units. <br />13.) <br />(Approved February 17, 2011) <br />1 3 <br /> <br />
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