CMA 2017 #137 · Agenda item attachment · Jun 12 2017

City of Cambridge Agenda Item Number 1 IN CITY COUNCIL June 12, 2017 WHEREAS: The City of Cambridge, per an Order of Taking dated September 26, 2016, acquired the property at 1-15 Vail Court, located at 139 Bishop Allen Drive, after the existing buildings sat vacant for many years; and WHEREAS: There exists in Cambridge a severe shortage of housing affordable to low and moderate income residents; and WHEREAS: A public meeting regarding Vail Court was held on March 23, 2017. At the meeting there was strong support for the creation of affordable housing on the property, as well as a desire expressed for appropriately scaled buildings; and WHEREAS: The City Council has made affordable housing a top priority and desires to increase the supply of affordable housing for low and moderate residents; and WHEREAS: Pursuant to Section 15A of Chapter 40 of the General Laws, as amended and accepted by the City Council on November 26, 1990, the City Council may, by a majority vote, transfer municipal land to another board or officer of the City for the purpose of constructing low and moderate income housing; and WHEREAS: The City Manager is recommending transfer of a 99-year leasehold interest in the property to the Cambridge Affordable Housing Trust for development of low and moderate income housing; now therefore be it ORDERED: That the City Manager is authorized to transfer a 99-year leasehold interest in the property at 1-15 Vail Court, located at 139 Bishop Allen Drive, to the Cambridge Affordable Housing Trust for the development of low and moderate-income housing; and be it further ORDERED: That the City Manager is hereby authorized to execute and deliver to the Cambridge Affordable Housing Trust in the name of and on behalf of the City of Cambridge in such form and at such time as the City Manager shall approve (such approval to be evidenced by such execution and delivery) such documents, instruments, agreements, leases, licenses, warranties, indemnifications, releases or certificates, or amendments thereto, necessary for the Cambridge Affordable Housing Trust to develop low and moderate income housing on the property at 1-15 Vail Court, located at 139 Bishop Allen Drive; and be it further

ORDERED: That the City Manager is hereby authorized to execute, accept, and deliver such supplemental or ancillary documents as are reasonable necessary to implement the intent of this Order and to execute, accept and deliver amendments thereto.