A Memo to Cape Elizabeth Voters - The Road to Affordable Housing Begins Here

TO:                Cape Elizabeth Voters

FROM:           Cynthia Dill

DATE:            February 6, 2024

RE:                 Town Council Agenda Item: Gull Crest Housing Bond on November Ballot   

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PROJECT AND PROPOSAL 

The project is for the Town of Cape Elizabeth to make available 22 acres of buildable land identified in the Gull Crest Affordable Housing Feasibility Report located in the RA zone for the purpose of creating an “affordable housing development” of Multiplex Housing as defined in the CE Zoning Ordinance and LD 2003 to include 80% AMI for rental housing and 120% AMI for owned housing. 

The Town will retain ownership of the land and contribute its use and the construction of the public road for the project. The cost of building the road is the local taxpayer price tag for the affordable housing development and will be paid for using a municipal bond. 

The cost of developing the housing (if the road bond is approved) will be financed 100% by a developer of affordable housing using various financing programs chosen by the Town Council through an RFP process.

Applying the LD 2003 density bonus to what’s currently allowed under the Cape Elizabeth Zoning Ordinance for Multiplex Housing in the RA zone will increase the density of the site area by 2 ½ times, allowing up to 196 units of affordable rental or owned homes. 

Using municipal bonds to finance infrastructure is a win-win for Cape citizens and Wall Street. Investing in the future economic security of families and our local workforce is smart and good. Because the bond will exceed $1,000,000 it will go to referendum.

 TOWN COUNCIL AGENDA ITEM ON FEBRUARY MEETING AGENDA

The following item was sponsored by Stephanie Anderson as Councilor for me as citizen (likely edited for clarity by the town manager) and scheduled to be on the agenda for the next regular meeting scheduled for Monday, February 12, 2024:

 Advance the housing goals of the Comprehensive Plan by authorizing the Town Manager to

(1) take the next steps set forth on page 18 of the July 2023 Gull Crest Affordable Housing

Feasibility Report, and (2) obtain the cost of building and bonding the road necessary to

develop multiplex housing within the 22-acre site area that is not a dead-end roadway.

Included with this request are any related and required budget items.

PLEASE ENCOURAGE THE TOWN COUNCIL TO MOVE FORWARD WITH ACTION! We can trust Cape voters with this important issue.