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FranVolkmann_Support for Valley CDC 082214.pdfAugust 22, 2014 Mr. Downey Meyer, Chair Community Preservation Committee City of Northampton 210 Main Street - Room 11 City Hall Northampton, MA 01060 Dear Downey and Members of the Committee: I am writing to urge the CPC to recommend the Valley CDC proposal to purchase the former Northampton Lumber Yard and redevelop it into a mixed use project that includes 50 new affordable rental apartments. This will be an outstanding addition to our downtown. We continue to need the affordable housing, and this is a perfect location, within walking distance of downtown and public transportation. The location is also ideal for a mixed-use project. Valley CDC has an outstanding record of developing housing in Northampton and beyond that is permanently affordable and that meets the highest standards of efficiency and design. Members of the CPC are probably familiar with the GO WEST project, the King St SRO project, and the beautiful apartments next to Vets Field. Valley CDC has most recently been funded for a major project to provide 38 affordable rental units in Easthampton. Because long-term affordability is built into the funding for projects such as these, the price tag seems extraordinarily high. You can build apartments for a lot less money, but not permanently affordable ones. Valley CDC knows how to put together workable funding packages from multiple sources and to bring the resulting projects to admirable conclusions. Their track record speaks for itself. We are fortunate to have this organization in the valley. Let me add that the project strongly supports the goals of Community Preservation and of Sustainable Northampton. This is an ideal project in a much needed, high priority area. I hope that the CPC will move forward with a favorable recommendation for full funding to the City Council. Thank you, Fran Volkmann 40 Arlington St.