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Georgetown Reviews Inclusionary Bylaw Amendment

2.27.20

Last night the Georgetown Planning Board held a Public Hearing to review a proposed amendment to the Inclusionary Housing Balance Bylaw.  The amendment, as it stands now, would make several changes to the current bylaw including lowering the threshold to any residential development and creating a new calculation for the fee-in-lieu payment.

Georgetown’s current Inclusionary Housing Bylaw only affects developments of 3 units or greater.  A lowering of that threshold to 'any residential development' would mean that the construction of any single-family home on a single lot would require an in-lieu payment. This payment would be 12% of the average market sale price of the property.  Based on new construction sale prices from 2017-2020 that would be approximately $77,000.

The Public Hearing was continued until the next Planning Board meeting on March 25th to allow time for additinoal review and comment.   NSAR was in attendance to provide public comment. Once the amendment is finalized it will be moved to be presented at Town Meeting later this year.

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