Wednesday, June 28, 2017

Town of Franklin exceeds the 10% affordable housing threshold

In a letter to the Town Council, the Planning Board and the Zoning Board of Appeals, Jeff Nutting announced that Franklin had risen back above the critical 10% for Subsidized Housing Inventory (SHI).

1. The 288 Glen Meadow apartments were recently purchased by a new investor. He was successful in obtaining funding from MassHousing to do some updates to the property. The purchase was recently completed; hence, all of the Glen Meadow apartments were added back into the SHI. 
2. As you will see, the Town has 11.89% of its housing stock as affordable by the state. until this number drops below 10% again, the Town will not be susceptible to proposals that seek to override local zoning. 
3. It is important to note any 40B proposal that has already been filed previous to Friday, June 23, 2017 will continue to through the process. 
As many of you know, the Town has bumped up and down over the 10% line for many years. Today's announcement is a compliment to the Town, including the hard, proactive work of the Municipal Affordable Housing Trust and the town's overall receptiveness to having a diverse housing stock for families of all incomes. 
Jamie and I are available for any questions you may have.

the stage on the Town Common in the rain
the stage on the Town Common in the rain

You can find the full memo and inventory listing on the Town of Franklin page

No comments:

Post a Comment