TOPSHAM — The Topsham Housing Authority will meet at 5 p.m. today at the municipal building.
During the meeting, an update on authority acquisition of two multi-family properties is scheduled.
In August 2011, John Hodge, executive director for the housing authorities in Topsham and Brunswick, was authorized by a unanimous Topsham Housing Authority board vote to negotiate purchase and-sale agreements for two properties as part of the authority’s effort to create and facilitate affordable housing in town.
The authority planned to make offers on a three-unit building at 25-29 Main St., and a four- unit building at 10 Green St. Purchases were contingent on the Topsham Housing Authority securing funding through an application process. If successful, the Topsham Housing Authority would have contracted with the Greater Brunswick Housing Corp. to develop and manage the properties. The Topsham Housing Authority applied for grant funding in September through the Federal Home Loan Bank of Boston (FHLB).
According to the authority’s December meeting draft minutes, Hodge told the authority at the Dec. 11 meeting that the Federal Home Loan Bank of Boston did not score the authority’s application due to an oversight in regulations. During the scoring process, bank regulators informed FHLB staff that applicants must verify income of existing occupants in multi- family properties before submitting their applications. Has this been known, Hodge said, the authority would have done so, according to the draft minutes.
Hodge confirmed last week in an email to The Times Record that “this project is off the table for now but we are working to revive it.”
Hodge added, “We have had some discussions with the State Office of Community and Economic Development, which may bear fruit. If not, we will reconsider re-applying to the FHLB Boston next fall.”
At today’s meeting, the Topsham Housing Authority is scheduled hear an update on former military housing in the Topsham Annex, which is under contract to be purchased by developer George Schott.
A finance report and discussion about the Topsham Housing Authority’s next steps also are listed on the agenda for today’s meeting.
dmoore@timesrecord.com
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