Lumberyard CPC support letter 11-14November 14, 2014
Mr. Downey Meyer, Chair
Community Preservation Committee
City of Northampton
210 Main Street
Northampton, MA 01060
Re: Redevelopment of the former Northampton Lumber
Yard
Dear Mr. Meyer,
I am writing to express my strong support for Valley Community Development Corporation’s request for CPC funding for the proposed redevelopment of the former Northampton
Lumber Yard site on Pleasant Street. I have worked closely with Valley CDC on their housing development projects for many years, and I am well aware of their excellent track record
in producing and maintaining high quality affordable housing in our community. This project will provide 50 units of affordable rental housing and 3,500 square feet of commercial space
in an ideal downtown location. It will address on a significant scale our City’s critical need for affordable rental housing for a range of low and moderate income households. I
am very impressed by the initial design plans for the project, and I believe it is the most important affordable rental housing initiative to have been presented for consideration in
the City in many years.
Most of my professional career has been spent working as a development consultant and underwriter of affordable housing projects in western Massachusetts.
I have broad experience with the state’s affordable housing funding process, and I am very familiar with the policies and practices that govern the decisions of the state Department
of Housing and Community Development (DHCD) in allocating low income housing tax credits and other critical state funding to projects. Although it is early in the development process,
I want to stress how important it is that Valley CDC secure a commitment of local funding for this project as soon as possible. With state resources limited, the funding process is
extremely competitive. For projects to be competitive for funding, they must demonstrate strong community support, especially financial support from the municipality, and strong readiness
to proceed. Timely commitment of CPC funding by the City is a critical element in assuring that Valley CDC will be able to secure the substantial state funding that will be needed to
make this project a reality.
An investment of community preservation funds in this project will leverage significant federal, state and bank financing dollars for the purpose of addressing
one of our City’s greatest needs, high quality affordable family housing. It will also substantially contribute to the revitalization of the Pleasant Street gateway area to the City.
I urge the CPC to give its full support to Valley CDC’s request.
Sincerely,
Bill Breitbart
37 Munroe Street