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24.086 An Order to Appropriate 200,000 in CPA Funds to Valley CDC for Downtown Affordable Housing Creation Project_CertifiedCity of Northampton MASSACHUSETTS In City Council, June 6, 2024 Upon the recommendation of the Community Preservation Committee 24.086 An Order to Appropriate $200,000 in CPA Funds to Valley CDC for Downtown Affordable Housing Creation Project Ordered, that WHEREAS, Valley Community Development Corporation submitted an application for Community Preservation Act funding for creation of an affordable housing project at 27 Crafts Avenue; WHEREAS, CPA funds will be used to create 20 fossil-fuel free affordable units in the heart of downtown, with close access to bus transportation, bike travel or by walking to an abundance of workplace opportunities, services and amenities; WHEREAS, CPA funds will be used to leverage significant funds from a variety of other sources, including an already-received $921,300 Municipal Vulnerability Program grant, and anticipated additional state grants and low income and renewable energy tax credits; WHEREAS, on April 17, 2024, the Northampton Community Preservation Committee, voted unanimously to recommend that $200,000 in Community Preservation Act funds be used to support this project. NOW, THEREFORE BE IT ORDERED, That $200,000 be appropriated from Community Preservation Act funding to the Downtown Affordable Housing Creation Project. And, that the grantee meets the conditions approved by the Community Preservation Committee, the Mayor, and City Council. Specifically, $200,000 is appropriated from the CPA Budgeted Reserve (account #2344930-359930).