Friday, April 27, 2007
ZBA Grants Permit for Coventry Woods 40B
The Zoning Board of Appeals (ZBA) granted the applicant, MCO Associates/Mark O’Hagan, a special permit to build the proposed Coventry Woods 40B subdivision on the 22.6 acre parcel off Concord Street. In its nearly 60 page decision, the ZBA stipulated the dozens of conditions in hopes of preserving the health and safety of the abutters as well as the town, a few of which are highlighted below:
Furthermore, Mass Housing denied the ZBA’s request of April 23 to rescind the applicant's project eligibility letter based on Mass Housing's recent precedent-setting rescission of the project eligibility letter of the Pine Woods 40B project in Sharon, Massachusetts, based on a discrepancy between site acquisition costs purported in the applicant's pro forma and the actual appraised value of the land. The value of the Coventry Woods' parcel was valued at $1.6 million by a recent appraisal but the applicant stated the site acquisition cost was $3 million, a difference that could considerably raise the cost and subsequent profit margin for the applicant.
© 2007 The