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Finance committee backs North Hill zoning change and MOA that could yield $800K–$1.2M payment‑in‑lieu
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Summary
The committee recommended adoption of zoning changes tied to North Hill redevelopment; staff said an MOA would allow payments in lieu of on‑site affordable units and estimated an incremental payment of roughly $800,000–$1,200,000 depending on permitted unit increases.
The Finance Committee recommended adoption of Article 19, a zoning amendment and an associated memorandum of agreement (MOA) with North Hill that would allow a payment in lieu of on‑site affordable housing for units above the 22‑unit baseline permitted under current zoning.
Planning staff (Speaker 11) explained the MOA formula: the number of incrementally permitted units beyond the 22‑unit baseline, multiplied by a per‑unit payment (staff estimated $400,000 per unit), and applying a 10% factor to the incremental count. That yields an estimated payment range of about $800,000 to $1.2 million depending on final permits. "The MOA dictates that the payment would be into the Town's Housing Trust," staff said.
Committee members focused on traffic, stormwater and site review: planners said site‑plan review and traffic studies will follow and that the MOA does not strip regulatory authority from other boards. Members also asked whether the payment is one‑time (it is) and whether anticipated tax revenues would be classified as new growth once constructed.
After discussion the committee voted to recommend adoption.
