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Massachusetts Housing Partnership Jennifer Goldson, AICP, JM Goldson community preservation + planning Rita Farrell, MHP Kevin Maguire, Oxbow Partners.

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Presentation on theme: "Massachusetts Housing Partnership Jennifer Goldson, AICP, JM Goldson community preservation + planning Rita Farrell, MHP Kevin Maguire, Oxbow Partners."— Presentation transcript:

1 Massachusetts Housing Partnership Jennifer Goldson, AICP, JM Goldson community preservation + planning Rita Farrell, MHP Kevin Maguire, Oxbow Partners CPTC CONFERENCE March 2013 CPA & Affordable Housing

2 Incentive-based smart growth tool (2000) 44% (155) of MA municipalities have CPA Local surcharge up to 3% and annual state Trust Fund distribution State trust fund distribution about 26% of local collections Open space conservation, historic preservation, outdoor recreation, and affordable housing CPA Overview

3 Acquisition Creation Preservation Support Encourages the reuse of existing buildings or construction on previously developed sites. CPA Eligible Housing Activities

4 Defines “support” of housing: Rental assistance, security deposits, interest-rate write downs, or other assistance To qualifying households or an entity that owns, operates, or manages such housing. Some non-housing changes: Allows rehab of existing parks Allows other municipal funds to be added to CP Fund above 1% local surcharge July 2012 Amendments Statute

5 Under CPA housing can serve households earning up to 100% of the area median income (AMI). (e.g., Hardwick $71,300/4-person household) To count on the SHI must serve maximum household income of 80% AMI (e.g., Hardwick $57,040/4-person household) Who is served?

6 10% - 80% of CPA can be used for community housing Allowed to bond for large projects 5% administrative budget (including staff or consultant support) CPA Funds for Housing

7 CPA Statute mandates planning Set overall CPA goals & determine how housing stacks up ID priorities for housing –Type, location, income served, etc –Must first know your needs –Realities for housing given funds available and market Consider regional projects Setting Priorities for Housing

8 1. Real Property 2. Financial Assistance 3. Support of Housing Three Housing Categories

9  Unit acquisition  New construction  Site acquisition  Predevelopment  Rehabilitation (properties acquired with CPA $) Real Property Northampton

10  Homeowner Assistance –First Time Homebuyer –Downpayment or buydown  Rental Assistance Financial Assistance

11  Consultants –Housing Plans –Predevelopment  Organizational Support –Housing Office –Start-up Municipal Housing Trust –Consultant or Staff Support  Housing Authority Support Support of Housing

12 Over 90 communities in MA have affordable housing trusts that are often capitalized with CPA funds Trusts are municipal entities that are able among other things, purchase, sell, and develop property Housing Trusts

13 CPA funds are flexible CPA funds can leverage other resources CPA projects are locally initiated CPA Experience

14 CPA Focus (Punch within your weight!) ELIGIBLE ACTIVITIES Soft market Assets <$250,000 Soft market Assets >$250,000 Strong market Assets <$250,000 Strong market Assets >$250,000 Needs StudyXXXX HabitatXXXX Downpayment Assistance XXXX Pre-dev new production XX DevelopmentXX Rental assistance XX Acquisition X

15 Belchertown Road Habitat house $40,000 CPA Main Street Apartments $275,000 in CPA funds for acquisition and pre- development Amherst

16 Rental voucher program administered by Chatham Housing Authority Funding for Habitat for Humanity $ 125,000 for an affordable housing down payment program $160,000 toward renovation of 6 rental units at historic Marconi station for homeownership $300,000 to non-profit developer for 47 units on town owned land on Lake Street Chatham Lake Street

17 Concord Junction Village DCAM surplus property – Concord State prison – 11 acres Concord Housing Development Corporation given the land: doing a request for interest to find a developer CHDC supports affordable housing up to 150% area median income $75,000 in predevelopment financing for engineering etc.

18 Concord

19 Yarmouth Buy Down Program 12 units created 1 Under Rehabilitation 13 additional planned

20 Acton 2004 $ 200,000 for the purchase of new condo units 2006 $25,000 for housing feasibility study 2007 $64,000 for capital projects, used for window and door replacement, driveway, walkway and retaining wall replacement (705 and 689 programs) 2007 $35,000 for support services targeted to disabled and young parents, homeless prevention 2009 $150,000 for capital projects, roof and septic replacement (Acton Housing Authority 667 program)

21 Acton 2009 $ 152,000 pre-development for Sachem Way, engineering, architectural, legal, and development consultant 2010 $250,000 for capital costs to develop 12 new family units 2012 $300,000 for capital costs at Sachem Way Sachem Way, 2012

22 From the Developers Perspective Oxbow Partners __ collaborate w communities At-risk Consulting - CPA allows communities to “invest” -Investors have a Stronger Voice at the Table -A Strong Voice leads to better (increased sensitivity to community scale/needs) result

23 From the Developers Perspective The importance of a local investor -As said Earlier ability to define need/goals ability to refine ideas for a particular project flexibility in availability/timing of $ -Provide Credibility to a Project during Community Approvals Process

24 From the Developers Perspective 3 Built Examples of How CPA Facilitated the Realization of Community Housing Goals 1.Hopkinton, MA – Hopkinton Housing Authority - Small Authority w Limited Capacity - Had Available Land - CPA grant to project - Make a Project Feasible - Important Local $ to Attract State $

25 From the Developers Perspective 3 Built Examples of How CPA Facilitated the Realization of Community Housing Goals 1.Hopkinton, MA – Hopkinton Housing Authority - Small Authority w Limited Capacity - Had Available Land - CPA granted to project - Make a Project Feasible - Important Local $ to Attract State $

26 From the Developers Perspective Hopkinton, MA – Hopkinton Housing Authority 12 Family Units 6 Duplex Building

27 From the Developers Perspective 2. Newton, MA – B’nai B’rith Housing New England - Strong Community Development Corporation - Very Contentious Project adjacent to Boston College - Doubled Newton’s Affordable Ownership Housing - 60 For-Sale Units of which 30% Affordable for SHI - CPA granted to project - Make a Project Feasible - Provide Equity to Help w Construction Loan - Important Local $ to Attract State $ - CPA was partially repaid based on success of market rate sales

28 From the Developers Perspective 2. Newton, MA – B’nai B’rith Housing New England - Strong Community Development Corporation - Very Contentious Project adjacent to Boston College - Doubled Newton’s Affordable Ownership Housing - 60 For-Sale Units of which 30% Affordable for SHI - CPA granted to project - Make a Project Feasible - Provide Equity to Help w Construction Loan - Important Local $ to Attract State $ - CPA was partially repaid based on success of market rate sales

29 From the Developers Perspective Newton, MA – B’nai B’rith Housing New England

30 From the Developers Perspective 3. Wayland, MA – Oxbow Partners - Abandonded Nike Missile Site for Sale - Community Purchases Land using CPA $ - Thorough Community Process before Selecting Developer - 16 For-Sale Units of which 100% Affordable - CPA granted to project - Purchase Land - Make a Project Feasible - Pay for Wayland Standard - Important Local $ to Attract State $

31 From the Developers Perspective 3. Wayland, MA – Oxbow Partners - Abandonded Nike Missile Site for Sale - Community Purchases Land using CPA $ - Thorough Community Process before Selecting Developer - 16 For-Sale Units of which 100% Affordable - CPA granted to project - Purchase Land - Make a Project Feasible - Pay for Wayland Standard - Important Local $ to Attract State $

32 From the Developers Perspective Wayland, MA – Residences at 89 Oxbow

33 Let’s get back to setting priorities Identify housing needs and resources Engage citizens and officials in prioritizing Formalize priorities in a Plan What types of projects do you think your community should pursue?

34 Welcome Home

35 Contact Information Rita FarrellJennifer Goldson MHPJ.M. Goldson Kevin Maguire Oxbow Partners


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