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Select Board approves two $175,000 awards to Falmouth Housing Trust for two deed-restricted homes
Summary
The Select Board voted to award $175,000 each from the Falmouth Affordable Housing Fund to Falmouth Housing Trust for two single-family homes: 21 Pheasant Lane (3-bed, deed-restricted at 80% AMI) and 20 Brigantine Drive (2-bed, deed-restricted at 140% AMI).
The Select Board voted to award $175,000 each to the Falmouth Housing Trust for two home-construction projects that the trust described as part of a town RFP process.
- 21 Pheasant Lane (Davisville): Proposed three-bedroom home deed-restricted at 80% of area median income (AMI); requested funding $175,000 ($25,000 predevelopment; $150,000 construction); proposed sale price $285,000. The project requires a comprehensive permit from the Zoning Board of Appeals; the developer said it will seek the permit and begin predevelopment activities.
- 20 Brigantine Drive (Hatchville): Proposed two-bedroom home deed-restricted at 140% AMI; requested funding $175,000 ($25,000 predevelopment; $150,000 construction); proposed sale price $360,000. Town staff said the lot is buildable as of right and that an advanced-treatment septic system is proposed.
Falmouth Housing Trust executive director Laura Moahan said the difference in required outside funding stems from differing sale revenues for the homes; lower-AMI homes yield less sale revenue and therefore require larger subsidy. Board members asked questions about sewer plans, potential future sewer hook-ups and whether owners of new I/A septic systems could be required to connect when a future sewer project reaches the neighborhood. Staff said that no exemptions have been formalized and that timing and policy remain under discussion.
The board approved both funding awards and authorized the town manager to execute documentation setting forth the terms of the financial awards.
