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Lexington Housing Partnership Housing Partnership Board Meeting Minutes for October 13, 2011 Attendees: Florence Baturin, Harriet Cohen, Mary Haskell, Chris Kluchman, Ken Kreutziger, Wendy Manz, Carol Marine, Melinda Walker, Betsey Weiss, Beth Rust of Regional Housing Services, Consultant, Chris Kluchman chaired the meeting; Carol Marine took the minutes. The meeting was called to order at 7:35 pm, with a quorum in place at 7:50. 1. Open Meeting & Approval of Minutes Minutes, with corrections, were approved for August 3, 2011. 2. Old Business - Reports Leary Property A demolition delay permit was issued for the farmhouse on the Leary site on September 18, 2011 and it has effectively put the project on hold for one year. The town is seeking a purchaser for the farmhouse, preferably one who will move the building. It was noted that the farmhouse is not on the state inventory of historical properties but on the local “cultural inventory”. The cultural inventory will be catalogued and available to the public online. Busa Farm There was a general discussion of development options and challenges for the site including the use of low income housing tax credits (LIHTC) as a financing option. Mr. Kreutziger indicated that a non profit might complete the “one stop” application required to apply for LIHTC equity funding on a pro bono basis. Approximate equity raise would be $1,200,000 or $100,000 per dwelling unit assuming 12 units. Generally, LIHTC funding is uneconomic if used on sites that have fewer than 12 units. One thought would be to combine the Busa and Leary sites. Possible development entities include Metrowest Consortium or a joint development team with both Metrowest Consortium and LexHAB. Ms. Rust brought up the issue of the Chapter 30B, the state statute governing the bidding process in this type of development. rd Mr. Kreutziger reported that he had made nine drawings available to the BOS (see August 3 minutes). The LHP reinforced our thanks and gratitude to Ken for his extensive job on both the presentation to the BOS as well as the drawings. A discussion of the process to be followed by the BOS in resolving the uses of Busa property ensued. The BOS is still considering all of the RFPs for the property. Thus far, only the Partnership has presented a plan indicating housing as a use although it is thought that Bob Pressman is preparing an additional plan for the BOS. Mr. Kreutizger indicated that the BOS will st be meeting with LexHAB to discuss the property on November 1although LexHAB has not prepared a plan of its own. Mr. Kreutziger indicated that he would attend the BOS/LexHAB th meeting. It was noted that on March 24 when members of the Partnership met with LexHAB, LexHAB indicated its support for the Partnership’s goals for the property. It was suggested that 1