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Select Board signs MOA with North Hill tying new units to $400,000 per affordable-unit payment to town trust
Summary
The board approved a memorandum of agreement with North Hill that would require a payment‑in‑lieu for a portion of new units enabled by the proposed zoning change: 10% of the incremental (delta) units at $400,000 per unit, payable to the Affordable Housing Trust when building permits are issued.
The Select Board approved a memorandum of agreement (MOA) with North Hill on Tuesday that ties a payment‑in‑lieu of affordable housing to any additional units enabled by a proposed zoning amendment.
Under the MOA the town and North Hill agreed on a baseline measure of units the site could build under existing zoning (calculated from baseline floor‑area), and then to treat any additional units permitted as the 'delta.' The MOA requires North Hill to pay the town the equivalent of 10% of those new delta units at $400,000 per…
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