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Trust approves $10,000 lottery reimbursement for 626 Main Street project
Summary
The Dennis Affordable Housing Trust approved a $10,000 reimbursement to support the lottery and marketing for Campanelli’s 626 Main Street affordable units; the developer said construction sign-offs are targeted for mid-December with broad move-ins likely in late March–April.
The Dennis Affordable Housing Trust voted to approve a $10,000 reimbursement to Campanelli (626 Main Holding LLC) to cover lottery and marketing expenses for the 626 Main Street affordable housing development. The motion to approve the funding was made and seconded and passed by voice/roll-call.
Jen Wren of Campanelli told the Trust the developer is targeting sign-offs on construction in mid-December and has begun pre-leasing; she said a January 1 move-in goal is ideal but the required marketing and lottery process — an informational session in the second week of November followed by roughly a 65‑day outreach and lottery period — makes late March or April a more likely timeframe for most tenancy starts. “Our goal is to get some sign-offs on construction in mid December, and we’re targeting… a January 1 move in,” Wren said.
Trust staff reported the LIP (local initiative program) application and regulatory‑agreement materials have been submitted and marketing materials and rent calculations (including utility allowances) were under review. The Trust clarified the project’s local‑preference policy: the town may seek up to 70 percent local preference and the select board voted to seek the maximum; for this project that equates to 70 percent of the affordable units (four of six affordable units) being placed in the local‑preference bucket for the initial lottery.
Members also confirmed the $10,000 will be paid as reimbursement: the lottery administrator (Mary, per the application materials) will invoice the Trust after running the lottery and the Trust will reimburse the vendor from the designated grant/fund. The Trust noted the payment will come from existing lottery-designated funds.
The Trust did not record a full roll-call tally for every attendee in the minutes excerpt, but members present voiced approval and the motion carried. The Trust discussed next steps for marketing outreach and timing for the informational session and asked staff to coordinate with the developer and lottery administrator so the marketing and LIP regulatory steps align with construction milestones.
