Swampscott Set to Address Fees-In-Lieu
November 14th at 8:35pm.
At the Special Town Meeting on Monday November 18th, Swampscott has an Article to amend the zoning bylaws as it pertains to Fee in Lieu payments for Affordable Housing Units. The update will specifiy the payment amount and overall process in more detail.
The Swampscott inclusionary zoning bylaw applies to any subdivision of land that results in 6 or more dwelling units, any assisted or independent living facility development that includes 5 or more assisted or independent living units, or any project that results in a net increase of 10 units. If a development meets the aforementioned requirements then at least 10% of the units must be established as affordable housing units or a Fees-in-Lieu payment can be made to the Affordable Housing Trust.
The Article up for consideration states that “Such Fee in Lieu shall be, for each required affordable unit, equal to 75% of the most current Total Development Cost per unit for projects of similar nature and size for the Metro Boston/Suburban Area in which Swampscott is situated, as articulated and made available by DHCD in the annual Qualified Allocation Plan.”
The Article will require a two-thirds vote to pass per the Massachusetts requirement for zoning changes. You can read the warrant here.