Friday, April 28, 2006
Town Meeting CPA funds tapped for housing, historic survey and trail: Warrant Article 26
Article 26 contains several motions for transferring Community Preservation Act funds collected through a 2% surtax on property and matched 100% by the state. The collected funds must be allocated each year to funds for specific purposes: 10% to community housing, 10% to historic preservation, and 10% to open space. The rest can be kept in an undesignated fund for any of these purposes or for active recreation.
Motion 1 allocates funds to the appropriate reserve funds. In addition, all monies in the Open Space fund plus $63,993 from the Undesignated Fund are transferred to pay debt principle on the Benfield Land borrowing, with another $59,400 for the interest. $15,000 is used for administering the funds, and the rest of the collected amount ($281,657) is held in reserve and falls into the Undesignated Fund at years end.
Bruce Freeman Rail Trail
Motion 2 appropriates $20,000 for the Carlisle portion of the Bruce Freeman bike trail to be developed on a rail bed along Route 27. This would use funds from the Undesignated account.
Motion 3 would transfer $41,000 from the Historic Reserve Fund to pay for a survey of several hundred historic properties in Carlisle to set up a database of information for on-going research and protection.
$90,000 for affordable apartments
Motion 4 would transfer $90,000 to set up a fund to provide incentives of $15,000 per unit for homeowners who go through the process of making accessory apartments affordable under state law. The town is currently awaiting state approval of a proposed Carlisle Accessory Apartment Plan which would qualify these units as affordable for the purpose of extending the town's moratorium from 40B development. The $90,000 will be transferred from the Community Housing Reserve Fund to the Housing Trust set up in Article 25 (if passed, otherwise to the Housing Authority). If state approval of the program is not obtained, it will be discontinued and the funds returned. See Article 28 for changes to town bylaws to accommodate accessory apartments.
$50,000 for Affordable
Motion 5 would transfer $50,000 to the Housing Trust set up in Article 25 (if passed, otherwise to the Housing Authority) to provide funding for initial plans and other preparation in the event a proposal for affordable housing is to be made to the town. The money is to be transferred from the Community Housing Fund.
Coventry Woods payment
Motion 6 would allocate $200,000 as an incentive for the developer of Coventry Woods on Concord Street to provide two additional units of affordable housing (41 units with 12 affordable, as opposed to 40 units with 10 affordable). The 12 units would allow Carlisle to extend its moratorium on 40B development for one year. Under state law 40B, developers can circumvent local zoning in towns with an inadequate supply of affordable housing. To keep the moratorium, Carlisle must continue to add affordable units at the rate of 12 per year. A recoup plan agreed to by the Coventry Woods developer would return 50% of sales over an average selling price of $670,000 per unit to the town. The $200,000 would be transferred from Undesignated Funds with recaptured funds deposited to the Housing Trust (if passed) or the Undesignated Fund.
© 2006 The