DHCD OK’s Medfield Meadows

Posted on October 26, 2018 | Comments Off on DHCD OK’s Medfield Meadows

The following letter was received by the Board of Selectmen today, wherein Department of Housing and Community Development approved the John Kelly 40B at the corner of Dale Street and Route 27.  –

Commonwealth of Massachusetts DEPARTMENT OF HOUSING & COMMUNITY DEVELOPMENT Charles D. Baker, Governor + Karyn E. Polito, Lt. Governor + Janelle L. Chan, Undersecretary October 19, 2018 Mr. Michael Marcucci Chair, Board of Selectman Town of Medfield 459 Main Street Medfield, Massachusetts 02052 Mr. John P. Kelly Medfield Meadows, LLC 18 Forest Street Sherborn, Massachusetts 01770 RE: Medfield Meadows, Medfield, Massachusetts REeEIVEO OCT 2 fl l0 1B MEDFIELD SELECTMEN Determination of Project Eligibility under the Local Initiative Program (LIP) Dear Messrs. Marcucci and Kelly: I am pleased to inform you that your application for project eligibility under the Local Initiative Program (LIP) for the proposed Medfield Meadows project has been approved. This approval is based on your application that sets forth a plan for the development of 36 residential units: 12 homeownership units and 24 rental units. The proposed sales prices and rents of the LIP units are generally consistent with the standards for affordable housing to be included in a community's Chapter 408 affordable housing stock. As part of the review process, Department of Housing and Community Development (DHCD) staff has performed an on-site inspection of the proposed project sites. DHCD has made the following findings: 1. The proposed project appears generally eligible under the requirements of the Local Initiative Program, subject to final program review and approval; 2. The site of the proposed project is generally appropriate for residential development; 3. The conceptual plan is generally appropriate for the site on which the project is located; 4. . The proposed project appears financially feasible in the context of the Medfield housing market; I 00 Cambridge Street, Suite 300 Boston, Massachusetts 02 11 4 www.mass.gov/dhcd 617.573.1100 Page 2 Medfield Meadows - Medfield, MA 5. The initial proforma for the project appears financially feasible and consistent with cost examination and limitations on profits and distributions on the basis of estimated development costs; 6. The project sponsor and the development team meet the general eligibility standards of the Local Initiative Program; 7. The project sponsor has an executed Purchase and Sale agreement for the site. The proposed project must comply with all state and local codes not specifically exempted by a comprehensive permit. Please provide us with a copy of the comprehensive permit as soon as it is issued. The DHCD legal office will review the comprehensive permit and other project documentation. Additional information may be requested as is deemed necessary. Following the issuance of the comprehensive permit, the specifics of this project must be formalized in a regulatory agreement signed by the municipality, the project developer, and DHCD prior to starting construction. As stated in the application, the Medfield Meadows project will consist of 36 units, 9 of which will be affordable: 12 homeownership units, three of which will be affordable and eligible for inclusion on the Town's subsidized housing inventory; and 24 rental units, six of which will be affordable and all of which will be eligible for inclusion on the subsidized housing inventory. The affordable units will be marketed, rented and sold to eligible households whose annual income may not exceed 80% of area median income, adjusted for household size, as determined by the U.S. Department of Housing and Urban Development. The conditions that must be met prior to final DHCD approval include: 1 . A final affirmative fair marketing and lottery plan with related forms shall be submitted that reflects LIP requirements including consistency with the Comprehensive Permit Guidelines, Section Ill, Affirmative Fair Housing Marketing Plans; 2. Any changes to the application it has just reviewed and approved, including but not limited to alternations in unit mix, sales price, rents, development team, unit design, site plan and financial pro forma reflecting land value, must be approved by DHCD; 3. The project must be organized and operated so as not to violate the state antidiscrimination statute (M.G.L. c1518) or the Federal Fair Housing statute I ~ i t ! Page 3 Medfield Meadows - Medfield, MA (42 U.S.C. s.3601 et seq.). No restriction on occupancy may be imposed on the affordable unit (other than those created by state or local health and safety laws regulating the number of occupants in dwelling units); and 4. The Town shall submit to DHCD the finalized details of the comprehensive permit. The Department expects that the development team will work closely with the public safety officials of the Town to address concerns relative to access for emergency vehicles fo all buildings on the property. As the Medfield Meadows project nears completion of construction, DHCD staff may visit the site to ensure that the development meets program guidelines. When the units have received Certificates of Occupancy, the developer must submit to both DHCD and the Medfield Board of Selectmen a project cost examination for the comprehensive permit project. This letter shall expire two years from this date or on October 17, 2020 unless a comprehensive permit has been issued. We congratulate the Town of Medfield and Medfield Meadows LLC on your efforts to work together to increase the Town's supply of affordable housing. If you have any questions as you proceed with the project, please call Alana Murphy at 617-573-1301. Catheri e Racer Associat Director cc: Sarah Raposa, AICP, Town Planner Michael Sullivan, Town Administrator Stephen Nolan, Zoning Board of Appeals Office of the Chief Counsel, DHCD Enc. RESPONSIBILITY FOR COST CERTIFICATION: By your signature below, Medfield Meadows, acknowledges and accepts this approval letter, including the obligation under law to provide the Department of Housing and Community Development and the Town of Medfield with a project cost examination .. Signature: ___________ _ Name (print): __________ _ Date: ---~--~------~ Upon receipt, please make copy of this letter and return a signed copy to Division of Housing Development, Department of Housing and Community Development, 100 Cambridge Street, Boston, MA 02114 ATTN: Local Initiative Program Medfield Meadows, ·Medfield, Massachusetts LOCAL INITIATIVE PROGRAM-COMPREHENSIVE PERMIT Sponsor: Medfield Meadows, LLC 18 Forest Street Sherborn, MA 01770 Project Addresses: 41 Dale Street Medfield, MA 02052 This project will provide ownership opportunities according to the following breakdown: Utility #of #of #of Gross Allowance Type of Unit Maximum Sales Units Bdrms Baths SF (Rental) Price/Rent Condo Fee (HO) Market Units 3 1 1 750. $2, 100 (rental) 13 2 1 900 N/A $2,520 2 3 1.5 1,300 $2,990 Market Units 1 2 2.5 1,600 TBD $528,000 (ownership) 8 3 2.5 1,800 TBD $594,000 LIP Units 2 1 1 750 $153.00 $1,089 (net) (rental) 3 2 1 900 $226.00 $1,265 (net) 1 3 1.5 1,300 $286.00 $1,436 (net) LIP Units 1 2 2.5 1,600 TBD $191,500 (ownership) 2 3 2.5 1,800 TBD $210,900 Total Units 3620181019-DHCD-ltr from_Page_220181019-DHCD-ltr from_Page_320181019-DHCD-ltr from_Page_4

 

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