CPA Proposals & Projects

Falmouth and Jackson Roads

Community Housing

20-22 Falmouth Road, West Newton, MA 02465

163 Jackson Road, Newton Corner, MA 02458

goals:

Convert two existing 2-family homes to rental housing permanently affordable to households at up to 80% of the area median income, for a total of 4 affordable units with 10 bedrooms total.

funding:

as listed in original proposal - final sources to be confirmed
$550,000 CPA funds appropriated (community housing)
$400,000 CDBG funds
$1,050,000 Mass. Housing Investment Corp.
$225,500 Newton Housing Rehab Fund
$100,000 Federal Home Loan Bank of Boston
$600,000 bank loan
$2,533 developer's equity contribution
$2,928,033 TOTAL PROJECT COST

contacts:

Proposal Review & Appropriations

Documents listed here apply to both addresses. Additional documents for each individual address are listed separately below.

15 October 2004 - proposal, including development & operating budgets, letters of financial committment, evidence of site control, scope & pricing of construction

15 November 2004 - letters of support

10 December 2004 - City of Newton Housing Staff memo

Oct & Dec 2004 - development & operating budgets, revised

17 March 2005 - development budget & funding sources, further revisions

30 March 2005 - CPC funding recommendation

4 April 2005 - Board order (appropriation)


20-22 Falmouth Road

Community Housing

20-22 Falmouth Road, West Newton, MA 02465

goals:

Create 2 units of housing affordable to households at up to 80% of the area median income in an existing 2-family house.

funding:

$275,000 CPA funds appropriated (community housing)

Project News

18 August 2004 - purchase & sale agreement

13 September 2004 - appraisal

15 October 2004 - project management documents:

28 February 2005 - scope of construction work

11 August 2005 - CPA funding documents:


163 Jackson Road

Community Housing

163 Jackson Road, Newton Corner, MA 02458

goals:

Create 2 units of housing affordable to households at up to 80% of the area median income in an existing 2-family house.

funding:

$275,000 CPA funds appropriated (community housing)

Project News

13 September 2004 - appraisal

6 October 2004 - acquisition costs (settlement statement)

15 October 2004 - project management documents:

7 February 2005 - scope of construction work

11 August 2005 - CPA funding documents:

 

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