By Joan F. Simoneau, Community Reporter
Marlborough – Developers of the Overlook at Lake Williams townhouse project are offering the city $450,000 in lieu of marketing nine units as affordable housing. The request made by Attorney Arthur P. Bergeron, representing developers Richard Roper and Duke Pointer of Crabtree Lake Williams, was discussed at the July 13 City Council meeting and referred to the Urban Affairs Committee for study and recommendation to the full council.
If approved, the developers suggested that payments be made in three installments of $150,000 each. The first installment would be paid within 30 days of the date of the vote by the City Council. The second installment would be paid within six months and the third within 12 months.
For the past several years the city has been in compliance with the state’s 40B mandate that requires at least 10 percent of the city’s housing units be classified as affordable. During discussions with the Urban Affairs Committee in May it was noted that the city is now above the 10 percent requirement.
City Councilor-at-Large Mark Oram asked members of the Urban Affairs Committee to assess the value of the 60-unit townhouse project and consider negotiating a higher price per unit if the value is higher than the $50,000 per unit estimated by the developers.
“I don’t think we should just settle for an amount they are offering, but look into what is most beneficial for the city,” said Oram.
The monies received by the city from housing developers would be placed in a special fund for economic development or a specific project as designated by the City Council.
“The funds could be used to help pay for an arts center in downtown Marlborough,” said Ward 1 City Councilor Joseph Delano.