Affordable Housing Committee

Monday, October 17, 2016, 5:30 pm until 6:30 pm
Leverett Town Hall, 9 Montague Road, 2nd Floor

1. Finalize any changes to Buy-Down program ( mainly, what will upper limit be for purchase price for home allowed under program guidelines, which will be increased in accordance with data obtained from town assessor's office-% increase in median assessed home value over last 3-5 years, and other relevant financial data, including increase in AMI. Also, decide if clause will be added which Ken suggests will strengthen our position should there be a foreclosure on property. How much $ will we request from CPA for next round of Buy-Down Program? 2. draft proposal for guidelines for Down Payment Assistance Program, based on available templates, but making decisions regarding what Leverett's maximum amount of assistance will be, terms of repayment/ forgiveness of 0% loan, etc. How much $ will we request for down payment assistance program?