HomeMy WebLinkAbout1993-12-14 Board of Selectmen Executive Session Minutes i
Board of Selectmen Meeting
Executive Session
December 14, 1993
The meeting convened at 7:05 p.m. in the Conference Room at Town
Hall, 16 Lowell Street, Reading, MA. Present were Chairman
George Hines, Vice Chairman Eugene Nigro, Secretary Sally Hoyt,
Selectman Bill Burditt, FinCom Vice Chairman Fred Van Magness,
Housing Authority Executive Director Peg Plansky, Housing
Authority Chairman Bill McIsaac . Town Manager Peter
Hechenbleikner.
The Town Manager reviewed the status of the Pearl Street School
sale including its history. The Housing Authority. Executive
Director expressed concern that the 20% affordable housing units
to be provided on the site are to be Medicaid eligible which are
very low income and which may not meet the needs of residents of
Reading who's incomes are still low income but are not Medicaid
eligible. There was discussion about the financial aspects of
meeting the very low income requirements through the Group Adult
Foster Care program which pays $33.60 per day for shelter costs.
The Housing Authority expressed the possibility that some Section
8 certificates may be dedicated to the project and that there may
be some way to share the units between the very low income and
merely low income. The Town Manager indicated in reading the
Zoning Bylaw that the developer appears to be meeting the
requirements of the law which requires a set aside of 10% of the
units. The Housing Authority does not have jurisdiction unless
the housing is to be provided off-site.
The Board indicated that they are sensitive to the Housing
Authority's concerns, but would not be receptive to having the
project not be built if we can't meet all of these needs. The
Town may have to look to other approaches to meet the needs.
Van Magness asked about the value of the project - (estimated at
$6.2 million) ; the range of prices - (the closest comparable cost
is $8,000/unit," but that project will be eligible for historic
tax credits) ; what the use of funds from the sale would be - (it
would go into the sale of real estate fund and the first $1 mil-
lion of proceeds from the sale of real estate funds would be used
as a cushion for capital projects, with any amount above that to
be used for funding the unfunded pension liability) ; are there
special terms and conditions with regard to off-site or other
matters - (no) ; what is the status of the field ownership, will
it be owned by the Town and does this create problems - (it would
be owned by the developer, but available to the Town. The Town' s
liability coverage would extend to this property) .
Board of Selectmen Executive Session - 12/14/93 - page 2
The Board agreed to continue the discussion with regard to hous-
ing issues and try to meet the Housing Authority's needs if pos-
sible.
On motion by Burditt seconded by Nigro the Board voted to adjourn
at 8: 09 p.m. All members present voted in the affirmative and
the motion was carried.
Respectfully submitted,
A` ,
Secrery