Affordable housing
Yesterday I was asked a great question that I thought I would share. "Why did the Town purchase the Gilmore Road house"? The Town created this affordable house with land it owned and utilizing a local builder (Brendan Homes) to build it at cost. The house was sold to a income-eligible family under the LIP program (Local Initiative Program) through the Department of Housing and Community Development (DHCD). The house counts on the Subsidized Housing Inventory (SHI) towards the state's requirement of Town's having 10% of it's housing stock as affordable. To get a house on this list it must be deed restricted and sold/rented to income-eligible person(s) that qualify.
In the spring the Town was notified by DHCD that the person who originally purchased the house at 26 Gilmore Road wanted to sell it. The Town has the right to be the first one to purchase it (Right of First Refusal). The Affordable Housing Trust Fund Committee and SHOPC met to discuss this option and voted to purchase the house back to ensure that the house was resold to an income-eligible buyer. The money to purchase this house came out of the Housing Trust Fund which is funded by CPC money (for affordable housing) and Payment in Lieu of money through the Town's inclusionary zoning. Once the house is resold through the lottery scheduled in January the money will be re deposited back into the Housing Trust fund to use on other affordable housing projects in Town.
If you have any questions about this please do not hesitate to contact me at the Planning Department 508-480-0161 or [email protected]
Here is some information on the program:
In the spring the Town was notified by DHCD that the person who originally purchased the house at 26 Gilmore Road wanted to sell it. The Town has the right to be the first one to purchase it (Right of First Refusal). The Affordable Housing Trust Fund Committee and SHOPC met to discuss this option and voted to purchase the house back to ensure that the house was resold to an income-eligible buyer. The money to purchase this house came out of the Housing Trust Fund which is funded by CPC money (for affordable housing) and Payment in Lieu of money through the Town's inclusionary zoning. Once the house is resold through the lottery scheduled in January the money will be re deposited back into the Housing Trust fund to use on other affordable housing projects in Town.
If you have any questions about this please do not hesitate to contact me at the Planning Department 508-480-0161 or [email protected]
Here is some information on the program:
dhcd_resale.pdf |