CPA Proposals & Projects

Newton Homebuyer Assistance Program 

 

Citywide

(see map link under Project News below)

goals:

Provide downpayment assistance to low- and moderate-income households for purchasing a home in Newton, in return for restrictions keeping those homes affordable to households at these income levels in perpetuity.

NOTE:  As of late 2015, this program is on hold for evaluation and possible restructuring.

funding:

$3,209,050 total CPA funds appropriated through 15 June 2015
 -$805,000

unspent CPA funds returned

 

Click here for the Planning & Development Dept.'s October 2018 proposal for this partial return of funds and a consultant evaluation of the program, as approved by the CPC in November 2018.

 $2.404,050  net CPA funds appropriated through 15 June 2015
units partly or fully supported with CPA funds (to be confirmed) through November 2012 (most recent case assisted):
21

total units

44

total bedrooms 

 

contacts:

  • Amanda Berman, Housing & Community Development Director, aberman@newtonma.gov, 617.796.1147
  • Malcolm Lucas, Housing Planner, mlucas@newtonma.gov617.796.1149 
  • City of Newton Planning and Development Department
    1000 Commonwealth Avenue
    Newton Centre, MA 02459
 

Funding Process

2003-06

31 March 2003 - Homebuyer Assistance CPC funding recommendation, phase 1

17 May 2004 - Board order, phase 1: appropriation $500,000

7 November 2005 - Homebuyer Assistance proposal, phase 2 & presentation, phase 2, (including photos)

3 March 2006 - CPC funding recommendation, phase 2

20 March 2006 - Board order, phase 2: appropriation $208,250

2008

21 May 2008 - Homebuyer Assistance proposal, phase 3

28 May 2008 - presentation, phase 3 (including photos)

23 June 2008 - CPC funding recommendation, phase 3

6 October 2008 - Board order, phase 3: appropriation $968,800

2012-13

4 April 2012 - Homebuyer Assistance pre-proposal, phase 4

14 December 2012 - Homebuyer Assistance proposal, phase 4, with all attachments and initial letters of support; revised version includes minor program design changes

14 January 2013 - additional letters of support (including Newton Housing Partnership and United Citizens for Housing Affordability in Newton), revised

14 February 2013 - presentation, phase 4

4 February 2013 - CPC funding recommendation, phase 4

22 May 2013 - Newton Law Dept. memo on asset limits in homebuyer programs, requested by the Board of Aldermen's Finance Committee

7 October 2013 - Board order, phase 4: appropriation $475,000

2015

23 January 2015 - Homebuyer Assistance pre-proposal, phase 5

13 March 2015 -Homebuyer Assistance proposal, phase 5, with Sample Instructions for Program Applicants (requested by CPC as proposal background)

9 April 2015 - public hearing presentation, phase 5

30 April 2015 - CPC funding recommendation, phase 5

15 June 2015 - Board order, phase 5: appropriation $1,057,000

2016-18

February 2015 through December 2016 - CPC discussions of this program (excerpted from full meeting minutes)

November/December 2016 - Planning & Development Dept. memo about possible program restructuring

27 October 2017 - Planning & Development Dept. update to the CPC, proposing to revise program purpose from creating new affordable units to preserving the affordability of units already subsidized

30 October 2018 - Planning & Development Dept. memo to the CPC, proposing to return $805,000 of previously appropriated funds and use up to $75,000 of retained funds for a consultant evaluation of the program and plan for a proposed change of purpose from the creation to the preservation of affordable housing

  • This proposal was approved unanimously by the CPC at their 13 November 2018 meeting.

9 June 2020 - ECR Consulting submits its Final Report and analysis of the Homebuyer Program along with a Planning and Development Department Memo on the results of the analysis and proposed future revisions to the program.  ECR's presentation on their findings is available here.

  • The Final Report and revisions to the Homebuyer Assistance Program were approved unanimously by the CPC at their June 9 meeting, pending a review of the next steps required to change the use of the CPA funding from the creation of new affordable housing units to the preservation of existing affordable housing units.
 

Project News

August 2011 - program funds used to purchase additional affordability for a unit previously restricted using non-CPA funding

November 2012 - updated map of all cases assisted through 2 November 2012

 

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