ARTICLE 33

2014 Annual Town Meeting

Melone Property

Melone Property

FY14 Board of Selectmen Goal

Voted on November 5, 2013

Goal #15:

Submit a CPC Project Form for FY15 funding for $250,000 to investigate maximization of development of rental housing on the Melone property to make meaningful progress towards the Town’s 10% obligation for affordable housing.

• Town can control location

• Town can control style

• Town can control size

• Town can control occupancy

What is the Proposal:

• Rental development

• Predominantly age restricted (over age 55)

• Continuing Care Retirement Community possible

• Other mix of residential with low number of children possible

Build out (Sudbury Portion Only) Potential Land Value Marketing Time

1. Multifamily Rental 250 units $7.5M - $8.75M 1-1.5 years

2. Garden Condo 250 units $11.25M – $13.75M 3-5 years

3. Townhouse Condo 83 units $6.5M – $8.0M 2-4 years

4. Single Family 15 units $3.75M - $4.0M 1-2 years

5. Office 260,000 s.f. $2.6M - $3.9M 10+ years

6. Assisted Living 90 units ? ? years

Koff Study Summary – Land Valuations for Potential Uses of Melone Property

September 2012

Process

2014

• Form Advisory Committee• Hire Consultant with experience in private development• Conduct Public Process to determine use• Identify development constraints

• Wetlands• Contamination• Topography• Zoning

PROCESS

2015• Review 3 development scenarios

Uses Impacts – water, wastewater, traffic, fiscal Wastewater Treatment options Traffic Mitigation Zoning Relief, if necessary Market Analysis

2016/2017• Property Disposition – Town Meeting Vote needed• Permitting• Construction

Year 10% GoalWith Johnson Farm Without Johnson Farm

Now 592 408 (184) 352 (240)

250 Units 592 658 66 602 10at Melone

2020 642 ?? ??

Notes:1) Johnson Farm assumed at the lowest number previously approved

by ZBA (56)2) 2020 projection of Sudbury housing units according to Metropolitan Area

Planning Council times 10%

Key Parameters

• Privately Built, Owned and Operated

• Meets the 40B Goal

• Minimal Impact on Schools

• Positive on-going budget impact

Melone Property

Summary Response Action Outcome (RAO) Class C-1, RTN 3-0435Environmental Resources Management to DEP, March 13, 2013