Peter Buchthal <[email protected]> 11:43 AM (27 minutes ago) to *Margaret*, Barbara, <[email protected]> I would like to point out that the town will not have any real "sticks" or tools to cajole a developer into building more affordable units.
As mentioned below, the town could attempt to get state Mass Works grants to help pay for additional units, BUT, the town can only apply for one such grant at a time, and it is presumptuous of the HCAWG to think that the town would not have other high priority projects that are equally or more important for the community such as building sidewalks for important unsafe roads within the town. The HCAWG has also mentioned that the town planned to apply for a Mass Works grant to help RLF's Lincoln Mall developer upgrade the Lincoln Woods sewage treatment plant. So, I'm confused how this tool will be that effective. As for spending the town's Affordable Housing Fund to help build additional affordable units, I do not think that would get us very far. The town will have to make developers whole on the difference between market value and what we consider affordable. That value will be in the multiple hundreds of thousands per unit. Given the size of the fund, we will only have the ability to subsidize a handful of units across town. *How many units does the Affordable Housing Fund think it will be able to afford* with new condos costing 500-700K+? As a datapoint, Oriole Landing recently sold for 32 Million (for 64 units) or 500K per unit. I also still don't understand why we are including public parcels such as the DPW lot into the HCA district. Once we put a public lot into the HCA district, the percentage of affordable units is limited to 10%. With the town wanting a higher percentage of affordable units, I have trouble reconciling the town's wish for increased affordable units and the benefits of rezoning these public lands at this time. On Mon, Oct 30, 2023 at 8:57 AM Margaret Olson <[email protected]> wrote: > The town has an Affordable Housing Trust and yes increasing the % of > affordable units at Oriole Landing was one of the recent uses of those > funds. More information on the Affordable Housing Trust is available here: > https://www.lincolntown.org/DocumentCenter/View/35223/Affordable-Housing-Trust?bidId= > > On Mon, Oct 30, 2023 at 7:48 AM Susanna Szeto <[email protected]> wrote: > >> Hi Margaret, >> On % of affordability, is this the reason why the town paid the developer >> Civico $1 million dollars? Or is this the reason at one of the recent >> board meeting that someone said there should be 2 million dollars in >> reserve (for what)? >> Hope you can shed some light on this! Thank you! >> Susanna Szeto >> >> On Oct 30, 2023, at 7:39 AM, Margaret Olson <[email protected]> >> wrote: >> >> >> All of the town presentations are available on the town HCA website: >> http://www.lincolntown.org/1327/Housing-Choice-Act-Working-Group >> >> The recording of the October 24th Planning Board meeting (presentation of >> new D options) is available here: >> https://cloud.castus.tv/vod/lincoln/video/653aaa9262e4d80008b6ad96?page=RECENT >> >> On 10% affordability: While the 10% is the maximum affordability we can >> mandate in an HCA zone, the town has a number of tools to increase the >> number of affordable units when we have an actual proposal from a >> developer. Our current zoning requires 15%; Oriole Landing is at 25%. Our >> tools include assistance in getting state grants (no town money) and the >> town's Affordable Housing fund. >> >> Margaret >> >> On Sun, Oct 29, 2023 at 10:40 PM Barbara Peskin <[email protected]> >> wrote: >> >>> Dear Lincoln, >>> >>> I have lived in Lincoln since 1995. I cherish it. It is unique and >>> special. It takes care of people and wildlife. >>> >>> I have had the privilege of working with some very smart people in >>> trying to understand HCA. I hope this video helps us all approach the HCA >>> Mandate thoughtfully. >>> >>> In the end, I hope we continue our commitment to the land and wildlife, >>> the people who live here now, and that new residents have affordable and >>> diverse living options, and can live in nature as is our legacy. >>> >>> Thank you for watching the 15 minute video. >>> >>> >>> https://drive.google.com/file/d/1L2rRPHPBlelQBx9Jkjco_j95P6kRAzX6/view?usp=drive_link >>> >>> >>> >>> >>> ~~~~~~~~~~~~~ >>> Barbara Peskin >>> >>> *My Moments in Nature Photo Gallery: barbarapeskin.com >>> <http://barbarapeskin.com>* >>> -- >>> The LincolnTalk mailing list. >>> To post, send mail to [email protected]. >>> Browse the archives at >>> https://pairlist9.pair.net/mailman/private/lincoln/. >>> Change your subscription settings at >>> https://pairlist9.pair.net/mailman/listinfo/lincoln. >>> >>> -- >> The LincolnTalk mailing list. >> To post, send mail to [email protected]. >> Browse the archives at >> https://pairlist9.pair.net/mailman/private/lincoln/. >> Change your subscription settings at >> https://pairlist9.pair.net/mailman/listinfo/lincoln. >> >> -- > The LincolnTalk mailing list. > To post, send mail to [email protected]. > Browse the archives at https://pairlist9.pair.net/mailman/private/lincoln/ > . > Change your subscription settings at > https://pairlist9.pair.net/mailman/listinfo/lincoln. > >
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