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<p>Kathy,</p>
<p>Here is a link to the newly updated criteria from Ipswich. <br>
</p>
<p><a class="moz-txt-link-freetext" href="https://www.ipswichma.gov/DocumentCenter/View/16466/Inclusionary-Housing-Payment-in-Lieu-of-Option">https://www.ipswichma.gov/DocumentCenter/View/16466/Inclusionary-Housing-Payment-in-Lieu-of-Option</a></p>
<address><font face="Times New Roman, Times, serif">Carolyn Britt,
AICP</font></address>
<address><font face="Times New Roman, Times, serif">Community
Investment Associates</font></address>
<address><font face="Times New Roman, Times, serif">PO Box 235</font></address>
<address><font face="Times New Roman, Times, serif">Ipswich, MA
01938</font></address>
<address><font face="Times New Roman, Times, serif">978-356-9881<br>
<br>
</font></address>
<div class="moz-cite-prefix">On 4/17/2024 11:30 AM, Williams,
Kathleen via MassPlanners wrote:<br>
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<p class="MsoNormal">Hi All,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The Town of Yarmouth is looking to modify
the way we calculate the cash payment for the Fee in Lieu of
Affordable Housing. I know this is a topic that has been
discussed before and have looked at the more recent responses,
but was wondering how others determine this calculation. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Yarmouth is looking at a way to calculate
the difference in sale price between the market rate unit and
an affordable unit and are proposing the following.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-left:.5in;text-align:justify"><span
style="font-family:"Calibri",sans-serif">412.4.5
Fee in Lieu of Affordable Housing. Calculation of cash
payment.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-align:justify"><span
style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-align:justify"><span
style="font-family:"Calibri",sans-serif">For each
affordable unit not provided within the locus of the
development, the fee shall be the difference between the
current Median Sale Price* and the affordable price
calculated to be affordable by the Massachusetts Executive
Office of Housing and Livable Communities (HLC) Local
Initiative Program (LIP)** to a household of four earning no
more than 80% of the Area Median Income as set by U.S. HUD
on an annual basis for Barnstable County.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-align:justify"><span
style="font-family:"Calibri",sans-serif">* The
Median Sale Price is per the most current Warren Group data,
adjusted for unit type, and where units in multi-family
buildings of 3 or more units are considered condominium
units. <o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-align:justify"><span
style="font-family:"Calibri",sans-serif">**
Housing units in multi-family buildings of 3 or more units
are calculated as condominium units.<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks,<o:p></o:p></p>
<p class="MsoNormal">Kathy<o:p></o:p></p>
<p class="MsoNormal"><b><span
style="font-size:18.0pt;font-family:"Times New Roman",serif">----------------------------------------</span></b><span
style="font-size:12.0pt;font-family:"Times New Roman",serif;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span
style="font-size:12.0pt;font-family:"Times New Roman",serif">Kathy
Williams, P.E.<o:p></o:p></span></b></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New Roman",serif">Yarmouth
Town Planner<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New Roman",serif">1146
Route 28<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New Roman",serif">South
Yarmouth, MA 02664-4492<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New Roman",serif">(508)
398-2231 Ext 1276<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New Roman",serif"><a
href="mailto:kwilliams@yarmouth.ma.us"
moz-do-not-send="true"><span style="color:blue">kwilliams@yarmouth.ma.us</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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