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READING HOUSING AUTHORITY <br />MINUTES OF EXECUTIVE SESSION <br />FEBRUARY 1. 1993 <br />The Chairman reconvened the meeting in Executive Session, whi( <br />was held in the computer room at 22 Frank D. Tanner Drive, Rez <br />for the purpose of discussing real estate transactions associz <br />with the linkage for the Greenhouse Acres development as well <br />as a proposal for property on Chute Street. All members of t] <br />Board were present: Mr. Allen, Ms. Galvin, Mr. Reynolds and <br />Mr. Sweet as well as the Chairman, Mr. McIsaac. The Executii <br />Director, Ms. Plansky, and the Authority's attorney, Mr. Grec< <br />were also in attendance. <br />Mr. Martin Curley thanked the Board for taking the time to di; <br />his proposals for the Chute Street property. As previously of <br />Mr. Curley feels that this property is in a transitional zone <br />and a multi- family.complex would be a good use for this parti( <br />parcel of land. Mr. Curley also spoke of his continued inter( <br />in the Greenhouse Acres development and is planning to contini <br />his efforts to acquire the property. If he was the successfu: <br />bidder for this property with Eastern Bank, he would develop <br />the Chute Street property for the linkage units required by t] <br />Special Permit on this development. Mr. Curley inquired as <br />to the possibility of proceeding under Chapter 774 with the T( <br />of Reading Zoning Board of Appeals. The Executive Director hi <br />been informed that the Town Planner felt that Mr. Curley's pi <br />would be a "friendly 774 ". Attorney Greco felt that this wou: <br />be allowed and, if any appeals are filed for the development, <br />the maximum time frame would be about 1224 months. <br />Mr. Curley thanked the Board and promised to keep them posted <br />as to his progress in either regard to either proposal. <br />The Board then welcomed Mr. Donahue from Howland Development <br />and his attorney, Mr. Latham. Mr. Donahue presented his cred <br />and gave an overview of his experience and Howland's past con <br />experience. Mr. Donahue said that this company was able and <br />willing to move forward on a project of this scale quickly an <br />with compatible units to existing structures. Mr. Donahue st <br />that he felt that his proposals would benefit the Town and th <br />Authority because his company had the experience and financia <br />resources to complete such a project. <br />h <br />ding <br />ted <br />e <br />e <br />cuss <br />tlined, <br />ular <br />st <br />e <br />wn <br />d <br />sal <br />�ntials <br />;truction <br />ted <br />Mr. Donahue also stated that Howland Development currently has <br />a 90 day agreement with Eastern Bank to work out the details <br />of the required linkage units with the Authority and the permit <br />process with the Town. Mr. Donahue gave an overview of the meeting <br />that was held with the Executive Director, Mr. Latham and himself <br />at the Authority's office wherein possibilities for satisfying <br />the linkage requirement were explored. Mr. Donahue felt that' <br />his company was prepared to provide the Housing Authority with <br />three units of family housing at no cost to the Authority and <br />three units would be made available for first -time homebuyers <br />thus satisfying the 6 units of low /moderate income housing re uirement. <br />A brief exploration of how this proposal would take substanti e <br />form ensued. <br />