Community Preservation Program

Falmouth and Jackson Roads

Community Housing

location: 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.
funding:
funding below as listed in original proposal - final sources to be confirmed
$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 Sponsor's equity contribution
$550,000 TOTAL CP funds appropriated (community housing)

$2,928,033

TOTAL PROJECT COST
total projects: 2 (listed below)
contacts: Josephine McNeill, Executive Director
Citizens for Affordable Housing in Newton
Development Organization (CAN-DO)
1075 Washington St.
West Newton, MA 02465
email: jam_cando@msn.com
phone: 617.964.3527
website: http://www.newtoncando.org/
Proposal Review & Appropriations
Documents listed here apply to both adresses.
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

location: 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 CP funds appropriated (community housing)
Project News
18 August 2004 purchase & sale agreement
13 September 2004 appraisal
15 October 2004 project management documents:
acquisition costs (settlement statement)
deed & affordable housing restriction
federal funding: CDBG funding documents
state funding: MHIC funding documents
28 February 2005 scope of construction work
11 August 2005 CPA funding documents:
loan agreement
mortgage, promissory note & right of first refusal

163 Jackson Road

Community Housing

location: 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 CP funds appropriated (community housing)
Project News
13 September 2004 appraisal
6 October 2004 acquisition costs (settlement statement)
15 October 2004 project management documents:
deed (confirmation of site control)
federal funding: CDBG funding documents
state funding: MHIC funding documents
7 February 2005 scope of construction work
11 August 2005 CPA funding documents:
loan agreement
mortgage, promissory note & right of first refusal