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