City of Somerville, Massachusetts - File #: 211993

• File #: 211993
• Version: 1
• Type: Order
• Status: Expired
• File created: 5/25/2021
• In control: City Council
• On agenda: 5/27/2021
• Final action: 5/27/2021
• Enactment date: 5/27/2021
• Enactment #: 211993
• Title: That the Director of SPCD consider with the Affordable Housing Trust Fund the advisability of combining anticipated affordable housing linkage payments for commercial development and seeking an affordable housing developer to leverage additional funding to maximize the number of affordable units that can be built.
• Sponsors: William A. White Jr., Kristen Strezo

Date	Ver.	Action By	Action	Result
12/31/2021	3	Housing and Community Development Committee	Approved
5/27/2021	2	City Council	Approved

  Agenda Text

title

That the Director of SPCD consider with the Affordable Housing Trust Fund the advisability of combining anticipated affordable housing linkage payments for commercial development and seeking an affordable housing developer to leverage additional funding to maximize the number of affordable units that can be built.

body

Official Text

That the Office of Strategic Planning and Community Development work with the Affordable Housing Trust Fund to consider the advisability of combining the affordable housing linkage payments for commercial development  that are anticipated to be paid to the Fund over the next few years to be used as a funding source for a development that will result in the creation of a substantial number of affordable units.  Further, that the Office of Strategic Planning and the Affordable Housing Trust Fund in connection with that task consider putting out a request for proposals with sufficient advance time so that affordable housing developers could then seek additional funding sources as well as funding from the Affordable Housing Trust Fund in order to maximize the number of affordable units to be built in responses to the request for proposals.