Committee authorizes chair to sign LAU application for Hannah Place, pending certificate of good standing

The committee voted to authorize the chair to sign a Local Initiative Unit (LAU) application for Hannah Place LLC, a 19-unit development approved by the planning board, contingent on receipt of a certificate of good standing for the applicant entity.

Farooq Ansari, who identified himself as the trustee for the proposed project, told the committee the project includes 19 units with four designated as affordable ("out of those 19 units, we have 4 affordable units"), and asked the Trust to sign the LAU packet so the application can proceed to the state housing agency (EOHLC, formerly DHCD). A committee review confirmed that only four units will count on the Subsidized Housing Inventory (SHI) because the affordable portion is under 25 percent, which staff and the applicant agreed was consistent with the planning-board finding.

Staff said the LAU packet was otherwise complete but lacked an official certificate of good standing for Hannah Place LLC. Ansari said the certificate "has already been gotten" and the committee agreed to authorize the chair to sign the application pending receipt of that document.

During discussion members raised the option of increasing the affordable unit count from four to five, noting that a fifth affordable unit would push the project over the 25 percent threshold and allow the town to count all 19 units on the SHI. Staff explained the trust could consider offering a subsidy tied to developer capitalization to make the additional affordable unit financially feasible, and the chair was asked to initiate conversations with the developer about that possibility.

The authorization motion passed on a roll-call vote. The chair said he would sign when the certificate of good standing is provided and would follow up with the developer about the potential to increase affordability.