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Framingham finance subcommittee defers rent-increase decisions for three affordable housing properties to full committee
Summary
The finance subcommittee heard annual rent-increase requests for Union House, Modera and Bancroft Lofts and agreed to postpone a recommendation until a fuller committee can participate. Bancroft Lofts requested a 5% increase; Union House and Modera sought unspecified increases.
The Framingham City Finance Subcommittee on an abbreviated panel agreed to delay recommending rent increases for three affordable housing properties — Union House, Modera and Bancroft Lofts — until at least May 1, when more committee members are expected to participate.
The request was presented by a city housing staff member, who said Bancroft Lofts is seeking a 5% increase to its maximum program rents. The presenter said Union House and Modera “have not seen any rent increases in 2 years” and that those properties, in many cases, charge residents “hundreds of dollars less per month” than program maximums or voucher levels. The presenter added that Bancroft Lofts, which is not covered by the…
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