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Developers outline Stonecrop Meadows phase 2: 74 proposed homes, $22.25M municipal infrastructure estimate
Summary
Summit Development and ACDC provided a detailed presentation of Stonecrop Meadows phase 2, describing the housing-development site, municipal-owned infrastructure to be dedicated to the town, and the developer's case that CHIP is necessary to preserve affordability and complete build-out.
Summit Development representatives presented details of phase 2 of Stonecrop Meadows during the July 28 Select Board meeting, saying the site could add roughly 74 homes and requires substantial municipal-owned infrastructure (road, sidewalks, buried sewer and a water-main rebuild).
Zeke Davidson of Summit Development described what he called two linked concepts: a municipal infrastructure project (town-owned road, water and sewer to be dedicated to the town) and a housing-development site (the parcels that will generate the tax increment). "Everything in this within that solid blue line is what's gonna be town owned infrastructure," Davidson said, and he estimated that component alone at about $22,250,000.
The developer argued CHIP is the primary financing pathway to avoid passing large infrastructure costs onto buyers or the town. The presentation said the initial 61 homes are already occupied or under contract and paying full taxes, which helps the incremental calculations, and that the project has received other grants—developers referenced a $5,000,000 grant noted in the packet. Summit and ACDC representatives urged the board to adopt a resolution to allow staff to finalize and submit a CHIP application once municipal-cost and legal reviews are complete.
Provenance: Developer presentation and Q&A (SEG 432–SEG 833); pro forma and phasing questions (SEG 834–SEG 1199).
