HomeMy WebLinkAbout2008-07-22 Housing MIN
ASHLAND HOUSING COMMISSION
Study Session
Finance Subcommittee
MINUTES
Date: 7-22-2008 Start Time: 5:00 Adjourned : 6:40pm
Topic: Community Land Partnerships
Commissioners in Attendance Staff in Attendance
Bill Smith Linda Reid, Housing Specialist, Staff Liaison
Carol Voisin Brandon Goldman, Senior Planner
Steve Hauck Commissioners absent
Nick Frost Graham Lewis
Aaron Benjamin Alice Hardesty
Richard Billin Regina Ayars
Alexandra Amarotico
Points of Interest Discussed at the Subcommittee Meeting
Nick Frost introduced the Community Land Partnership Model. Based on a UK Model the CLP is a
financing mechanism to support affordable Housing. Frost presented a powerpoint presentation that
outlines the CLP model in some detail.
Aaron Benjamin spoke about a similar type of development financing that was completed in NY City (IE>
Penn Station South) in which Amalgamated Unions, local, state government and federal officials, worked
to build new cooperative housing in which Union members purchased approximately 2000 homes
through a similarly structured financial model.
Steve Hauk expressed that the CLP model would seem to work for private developers, and that non-
profit developers utilize existing models that would have to be addressed.
Richard Billin noted that the shareholding aspect of the CLP model would define it as a “Security” and
thus subject to Federal and State Security laws.
Frost concluded his presentation and outlined next steps including further refinement of the model to
comply with any Legal requirements and Limited Liability Corporation status, discussions with the
Ashland Community Land Trust, or other affordable housing developers about potential application.
Bill Smith mentioned the possibility of working with the School Board for teacher housing. Carol Voisin
recalled Sky Research’s interest in developing employee housing in consort with SOU and thought such
private employers could be interested in the model.