HomeMy WebLinkAbout1995-05-08 Reading Housing Authority Minutes - Executive SessionREADING 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;
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Executive Session
Minutes - 5/8/95
- Buildings 2 through 8 inclusive must all contain at least one (1) affordable unit. The
Reading Housing Authority hereby agrees that there will be no affordable unit in Builc
- The Reading Housing Authority units shall be turned over at completion of Building #2
#8 and all affordable units must be completed within the same reasonable period of time ,
all market rate units within the building, creating no undue delay in delivery of the afford
units.
#11
- The ZBL language which states "Any PRD development shall contain or provide off -site ip
a manner acceptable to the Reading Housing Authority a minimum of ten percent of its total
units (both on -site and off -site) affordable to low- income, moderate - income, or elderly
households in perpetuity." must be added to page 2 of the agreement.
- Terrace units for "affordable" units cannot exceed four (4) units within the development.
All affordable units must be integrated and representative throughout buildings 2 -8.
- Affordable as used herein shall mean either those affordable units for sale or those units
gifted to the Reading Housing Authority.
The Chairman then declared said motion carried and said vote in effect.
There being no further business before the Board, it was unanimously voted to return to
regular session.
Respectfully submitted,
Margaret K. Plansky, Secretary
and Executive Director