1995-05-08 Reading Housing Authority Minutes - Executive Session

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READING HOUSING AUTHORITY Minutes of the Executive Session of Ma 8, 19 A regular business meeting of the members of the Reading Housing Authority was held on Monday, May 8, 1995 at 7:30 P.M. at the office of the Authority, 22 Frank D. Tanner Driv in the Town of Reading, Massachusetts. The meeting was called to order at 7:30 P.M. wit] the Vice- Chairman, Mr. Sweet, presiding. Those members present and forming a quorum were: Mr. Reynolds, and Mr. Allen. Mr. McIsaac joined the meeting at 8:30 P.M. The Executive Director, Ms. Plansky, was also in attendance. Mr. Greco, attorney for the Authority, as well as Drew Dolben of Bear Hill Limited Partnership along with their attorney, Brad Latham, were also present. At 8:40 P.M. and upon a motion duly made by Mr. Allen and seconded by Mr. Reynolds, i was unanimously voted to adjourn to Executive Session for the purposes of discussing real estate negotiations regarding the Bear Hill development and to come back out into regular session at the conclusion of the Executive Session, upon a roll call vote as follows: Mr. Allen - aye Mr. McIsaac - aye Mr. Reynolds - aye Mr. Sweet - aye Ms. Galvin was not present at this meeting. The Chairman then declared said motion and said vote in effect. Mr. Dolben and Mr. Latham presented the following: - Bear Hill development was seeking to build 10 buildings containing 12 or 13 units each (the developer showed the site plan with building exteriors and location) - the developer was requesting that the "linkage" units not be given until after the first building and the ZBL required that all units must be given by the 8th building; - the developer had not specified where the units were to be located - the 3 BR units must be contained on the terrace level; there were to be 12 terrace units - there is no requirement for release of 1 units for every 9 units and they would request th; the Authority not require this for marketing reasons The Board discussed the issues and upon a motion duly made by Mr. Allen and seconded Mr. McIsaac, it was unanimously VOTED: To authorize the Chairman to sign an agreement with Bear Hill Limited Partnership with the following maximum criteria: - no more than three (3) affordable units may be contained within a building; with a maximum of two (2) buildings that contain three (3) units;