An update on the Cambridge Redevelopment Authority Affordable Homeownership Commitment

Sobrinho-Wheeler, Toomey, and Zondervan:

This letter is the "Letter of Commitment" referenced in Section 14.39 of the proposed amendment to Article 14 of the Zoning Ordinance (the "MXD Zoning Amendment"). The purpose of this letter is to confirm that the Cambridge Redevelopment Authority (CRA) will commit to cause the construction of at least twenty thousand (20,000) gross square feet of below market for-sale housing units (the "MXD Below Market Rate Home Ownership Units") as detailed below.

Current Zoning Requirements

Article 14 of the Zoning Ordinance requires that twenty percent (20%) of any Infill GFA (as defined in Section 14.32.2 of the Zoning Ordinance) devoted to multi-family residential units be developed as Affordable units and that an additional five percent (5%) is developed as Middle-Income housing. Current zoning and special permits for the MXD District authorize four hundred and twenty thousand (420,000) square feet of new residential development.

Note that Boston Properties committed in the December 21, 2015 letter of commitment referenced in existing Section 14.39 of the Zoning Ordinance (the "2015 Letter of Commitment") to providing a minimum of twenty percent (20%) of future residential GFA as for-sale housing units. The for-sale units would be subject to the same requirements as rental units in terms of providing twenty percent (20%) affordable and five percent (5%) middle-income housing. Exhibit A