HomeMy WebLinkAbout1994-04-07 and 19 Reading Housing Authority Minutes - Executive SessionREADING HOUSING AUTHORITY
Minutes of the Meeting of the Executive Session of A ril 7 and 19, 1994
The Board convened in Executive Session at 8:00 P.M. on Thursday,
April 7, 1994, with acting Chairman, Mr. Reynolds presiding; Ms.
Galvin and Mr. Allen as quorum. Mr. McIsaac also joined the Board
at this point in the meeting. Also in attendance were the Executive
Director, Ms. Plansky along with the developer, Mr. Andrew Dol en
and his attorney, Mr. Brad Latham. Ms. Sally Hoyt, Reading Se ectperson,
was also asked to join the meeting.
Mr. Dolben presented an overview of the project which is:
- Located on 10 acres of land between Summit Towers and Hopkins
Street;
- Bear Hill Limited Partnership were only respondents to 3/93 RPF
prepared by Town;
- P &S has been signed with Town; engineering and site plans have
been prepared; question on title issues have been resolved;
- Preliminary application prepared for CPDC
- Looking for agreement for "inclusionary" language from RHA.
- Current proposal is for 11k buildings with 14 units each
- The bedroom distribution was proposed to be:
1 BR - 30% (48 units);
2 BR - 55% (88 units)
3 BR - 15% (24 units - Selectmen have reduced this to 0 %)
- Units to contain washer /dryer hook -up; gas fireplace, gas heat;
electric air conditioning; refrigerator, range, dishwasher, hood
but no micorwave units;
- Contemporary NE architecture;
- Clubhouse and administration building with gym, exercise room,
pool and shower /bath areas;
- Proposed ballfield for neighborhood use;
- Abutters have problem with 160 unit development due to traffic
and safety issues which Mr. Dolben felt were unfounded and could
be addressed;
- Units will be rental to start and will convert to condos as soon
as possible (projected 3 -5 years);
- Upon conversion to condo will: Tenant buy unit at discount; tenant
stay until lease is up; total sell -out will take 2 -3 years;
- Normal turnover in apartments is 35 -40% /year; at that time he
developer would paint, clean -up and convert for sale;
- The reduction in number of 3 BR units is to lessen impact oa schools;
The Board discussed several issues:
- Viability of project if units are reduced to 100.
Mr. Dolben said that the amenities would be eliminated; no bal field
for public; no on -site management; project is more attractive nd
better maintained with in -house manager.
Board proposed several options to the developer for his review:
50% of linkage units for first time homebuyers; 50% for RHA as
gift;
- Units during rental period would be same as language for former
Schoolhouse: rental subsidy and if none available, develope would
act as subsidizing agency until condo conversion.
Page 2
Exec. Sessi n
Minutes -4/`7 & 19/94
Mr. Dolben reviewed and discussed the enumerated proposals from the
RHA and asked that the meeting be continued in order for him to revie%
and make his proposals. The Board asked Mr. Doblen to prepare a
"best and worst case" proposal for their review. A subsequent meeting
for April 19, 1994 at 7:30 P.M. was scheduled. Upon a motion duly
made by Mr. Allen and seconded by Mr. McIsaac, it was unanimou ly
VOTED: To adjourn from Executive Session at 10 P.M. and to rec nvene
this meeting again on April 19, 1994 and also to reconvene thi session
in public forum for discussion of listed agenda items.
On April 19, 1994 at 8:00 P.M. the Board reconvened in Executive
Session with acting Chairman Mr. Reynolds presiding. Mr. Allen and
Ms. Galvin were also in attendance as well as the Authority's attorney,
Mr. Greco and the Executive Director, Ms. Plansky. Mr. Andrew Dolben
and his attorney, Brad Latham, were there representing Bear Hill
Limited Partnership.
The Board reviewed the proposal prepared by Mr. Dolben regardi g
the linkage units. After discussion the following votes were aken
in regard to the linkage units:
Upon a motion duly made by Mr. Allen and seconded by Ms. Galvin,
it was unanimously
VOTED: To accept the base rent of $576 per month for a 2 bedroom
apartment; and $666 per month for a 3 bedroom apartment during the
rental phase of the development.
The Chairman then declared said motion carried and said vote in effect.
Upon a motion duly made by Mr. Allen and seconded by Ms. Galvi,
it was unanimously
VOTED: To authorize the Executive Director, Ms. Plansky and t e
Authority's attorney, Mr. Greco, to work out language to reduc the
required downpayment to 5% similar to MHFA guidelines and requ'rements.
The Chairman then declared said motion carried and said vote i� effect.
Upon a motion duly made by Mr. Allen and seconded by Ms. Galvi�,
it was
VOTED: To approve the unit mix for the linkage units for 160 nits
to be developed at Bear Hill, as follows:
2 BR 3 BR
4 as gifts to RHA 2 2
12 units as lst time homebuyer 9 3
The vote was 2 -0 -1. The Chairman then declared said motion c
and said vote in effect.
Upon a motion duly made by Mr. Allen and seconded by Ms. Galvi�,
it was unanimously
ied
Page 3
Exec. Sessi n
Meeting -4/7 & 4/19/94
VOTED: That the Reading Housing Authority support the 160 uni
in front of any Town body or hearing for the Bear Hill Develop
based on the meeting and agreement with the Authority for the
linkage units as well as to have representatives from the Auth
appear in front of the Boards or Commissions to give support a
testimony.
The Chairman then declared said motion carried and said vote
Upon a motion duly made by Mr. Allen and seconded by Ms. Galv
it was unanimously
proposal
ent
equired
rity
effect.
VOTED: To approve the following schedule for reduction in li�kage
units if the Town did not issue the permit for 160 units:
For 160 units - 4 units to RHA - 2 @ 2BR; 2 @ 3 BR;
12 units for first time homebuyers: 8 @ 100 %;
4 @ 80% of median income with unit mix of
3 @ 3BR and 9 @ 2 BR;
For 150 units - 3 units to RHA; 1 @ 2 BR; 2 @ 3 BR;
12 units for sale: 8 @ 100% and 4 @ 80 %;
3 @ 3 BR and 9 @ 2 BR;
For 140 units - 3 units to RHA: 1 @ 2 BR; 2 @ 3 BR;
11 units @ 100% of median; 2-@ 3 BR, 9 @ 2
For 130 units - 2 units to RHA: 1 @ 2 BR; 1 @ 3 BR;
11 units @ 100% of median: 2 @ 3 BR; 9 @ 2
To allow the Authority the right of first refusal on any first
homebuyer unit at any time.
BR. -Aul'P
BR.
time
The Chairman then declared said motion carried and said vote in effect.
Upon a motion duly made by Mr. Allen and seconded by Ms. Galvin,
it was unanimously
VOTED: To allow the following mix during the rental phase on y:
4 @ 3 BR; 12 @ 2 BR; and upon conversion to condominium sales
to have the mix at conversion be-.5 @ 3 BR; 11 @ 2 BR with
the Authority's gift to be 2 @ 3 BR and 2 @ 2 BR for full
development.
The Chairman then declared said motion carried and said vote
There being no further business before the Board it was
voted to adjourn the Executive Session at 11:30 P.M.
Respectfully submitted,
Margar t K. Plansky, Secr tary
and Executive Director
effect.
ly