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Rice Pond Village Proposed Unit Composition
The application for the Rice Pond Village project under Chapter 40B LIP comprises various unit types, along with their estimated gross financial income. However, despite concerns regarding the potential public safety issues that the project may cause for the surrounding neighborhood and wider community, developers Steven F. Venincasa and James Venincasa have chosen to disregard these concerns.
DHCD Approves Rice Pond Village Project Eligibility Letter
The Project Eligibility Letter (PEL) for Rice Pond Village has been officially received by the Town of Millbury. This letter has been transmitted to both Christopher Naff, Chairperson of the Millbury Board of Selectmen, and the developer, Steven F. Venincasa of Rice Pond Village, LLC.
What A Chapter 40B Project Eligibility Letter Means
A Chapter 40B Project Eligibility Letter, also known as a Comprehensive Permit, is a crucial document in the context of affordable housing development in the state of Massachusetts. Chapter 40B refers to a state law that encourages the construction of affordable housing units in communities where less than 10% of the housing stock is considered affordable, as defined by the law.
Millbury Received Chapter 40B PEL
The Executive Office of Housing and Livable Communities (EOHLC) has forwarded a Project Eligibility Letter (PEL) pertaining to the proposed Chapter 40B Rice Pond Village project to the Town of Millbury. The document, upon receipt, necessitates signatures from the corporate officer representing Rice Pond Village, LLC (Steven F. Venincasa and/or James Venincasa), as well as from Christopher Naff, the Chairperson of the Millbury Board of Selectmen, before it is returned to EOHLC. After which a final PEL will be issued by EOHLC.
Chapter 40B: Unraveling The Limitations Of A Partial Solution
While Chapter 40B attempts to address the housing affordability crisis, it too falls short of offering a comprehensive solution due to several limitations.
The Complex Puzzle of Affordable Housing: Why Zoning Changes Alone Won't Suffice
The United States is grappling with an escalating housing crisis, where soaring costs and limited affordable options have become an unfortunate reality for millions of individuals and families. Addressing this crisis demands multifaceted solutions that go beyond simple remedies. While changing zoning laws has been suggested as a potential solution, it's essential to recognize that zoning changes alone will not be enough to untangle the intricate web of factors contributing to the housing and affordable housing crisis in the United States.