HomeMy WebLinkAbout1990_12_04 Town Board Regular Minutes MINUTES OF A SPECIAL MEETING OF THE
TOWN BOARD OF THE TOWN OF NNECK
AMID NEMBERS OF THE AFFORDFABLE HOUSING
TASK FORCE, HELD ON TUESDAY, DECEMBER
4, 1990 IN CONFERENCE ROOM A OF THE
TOWN CENTER., 740 WEST BOSTON POST
ROAD, MAMARONECK, NEW YORK
CONVENE SPECIAL MEETING
Supervisor Silverstone called the meeting to order at 8:00 p.m.
Present were the following members of the Board:
Supervisor Caroline Silverstone
Councilwoman Elaine Price
Councilman McGarr
Also present: Stephen V. Altieri, Town Administrator
Members of the Affordable Housing
Task Force
Supervisor Silverstone indicated that the purpose of this meeting was
to review the proposed development of the Larchmont Motel site and
certain related issues. The Administrator gave a brief update on the
status of the grants and applications being filed with the County and
State to gain assistance with financing of this project.
A discussion ensued among those present about the Community
Reinvestment Act and Federal Home Loan Program, which were put into
effect to help subsidize affordable housing, and a question was raised
as to whether either of these programs could be utilized for the motel
project site.
Further discussion ensued with regard to approaching some of the local
banks to enlist their support for the project by offering financing at
the low market rates.
The meeting then focused on the decision as to whether or not to
pursue a limited equity co-op arrangement for the motel development or
to continue pursuing the construction of rental housing. A somewhat
lengthy discussion by various members of the Task Force and the Town
Board followed, and it was ultimately concluded that the Town should
pursue construction of rental housing at the motel site since it was
originally identified as the most critical need within the Town as
well as the County of Westchester.
In conclusion, the meeting focused on the type of information which
would be requested of the two finalists for preferred developer of the
site, and it was decided that the Town would obtain financial
statements from both finalists as well as a list of references and
recently completed projects.
ADJOURNMM
There being no further business to come before the Board, on motion by
Councilman McGarr, seconded by Councilwoman Price, the meeting was
unanimously declared adjourned at 9:45 p.m.
Respectfully submitted,
Patricia A. DiCioccro
Town Clerk