Rivermeadow Brook Community Association
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Senator Moore of Worcester has sponsored a bill that would rein in some if the abuses of 40B.

Specifically:

1) Require direct public financial subsidies for 40 B projects. This subsidy would bring more oversight from state and federal agencies and subsequently reduce the abuses of the law that have occurred.

2) Increase the percentage of required affordable housing from 20-25% to 30%. In the last 3 years 30% of all new construction has been proposed under 40B. This leaves little doubt as to the profitability of these developments and illustrates that developers can afford to build more affordable units in each project.

3) Limit the profits of 40B developments. The law was initially drafted to limit the profits of these developments to 20%. However, in recent years, developers have found ways to inflate project costs beyond their actual investment. This would bill would limit developers to seeking 20% profit on only their actual investment.

4) Limit the variances a developer can seek under Chapter 40B to density and lot area requirements. Lot size and density restrictions are widely seen as the major impediments to affordable housing. This would allow developers to seek waivers for these requirements while keeping other local regulation such as sewer connection regulations and use zoning.

This is a chance to re-gain some local control over development in our town (and all Mass. Towns). PLEASE contact our representatives on Beacon Hill and ask them - no, tell them - that they need to support this bill.

All of Chelmsford Sen. Susan Fargo (617) 722-1572 Susan.Fargo@state.ma.us
Precincts 1 & 9 Rep. Cory Atkins 617-722-2013 Rep.CoryAtkins@hou.state.ma.us or cory@coryatkins.com		Precinct 4 Rep. David Nangle 617-722-2020 Rep.DavidNangle@hou.state.ma.us
Precincts 2, 6 & 8 Rep. Tom Golden 617-722-2410 Rep.ThomasGolden@hou.state.ma.us		Precincts 3, 5 & 7 Rep. Geoffrey Hall 617-722-2575 Rep.GeoffreyHall@hou.state.ma.us

More info...
Brief Summary (MS Word, 27KB)
Full Text of Bill (MS Word, 41KB)

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