Affordable housing fund gives developers options
Under the town’s Planning Board ordinance and zoning regulations, developers in the senior housing overlay district are required to either build 10 percent of a development’s units as affordable, or make a donation to a local housing trust which can then be used to fund the development of affordable units in the future.
Selectmen unanimously approved establishing the trust fund, but did request that Goodwin provide further information in the near future about how much money has already been donated to the town for affordable units and whether that money corresponds with the number of affordable units that could have been created by developers in the senior overlay district.
The Salem Observer
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