The Finance Committee will vote on a recommendation by the Community Preservation Committee to allocate $3,000,000 in CPA funding for the West Newton Armory Project – to create 43 units of affordable housing. Specifically, the request is for $2,373,470.71 coming from the FY22 Unrestricted Funds, and the remaining $626,529.29 to come from the Prior Year Undesignated Funds. In addition, another $890,000 of the City’s Inclusionary Housing Funds are also being requested to support the project. The funds will go to Metro West Collaborative Development/ Civico Development. The project will create 43 units of new affordable housing that will be available to households with incomes below 60% AMI, with some units set aside for households at 30% AMI, and include 15 one-bedroom, 21 two-bedroom, and 7 three-bedroom units, all of which will be visitable and five of which will be fully accessible. The project will also include the preservation and restoration of the historic headhouse of the building into office, gallery, and community space. The Finance Committee will meet on Monday, June 27th at 7:00 p.m. See agenda here.
