Housing Trust authorizes RFP for two affordable condos at 12 Hammond

WAYLAND — November 28, 2023 — Wayland Housing Trust authorizes 12 Hammond RFP at 60 percent AMI with up to $400,000 in town capital. The Municipal Affordable Housing Trust voted 5-0 Tuesday to release an RFP for two affordable condominiums on the town-owned parcel, with responses due Feb. 1. Chair Michael Staiti said the lower 60 percent target — down from 80 percent at Habitat for Humanity's urging — drops projected sale prices to roughly $240,000 to $245,000 per unit, versus about $290,000 at 80 percent. The board also approved a pro rata split of resale proceeds based on each party's capital contribution, rather than the trust recouping 100 percent. "We're still coming up better than projected because the sale price is going to be higher," Staiti said. Officers were re-elected unopposed; the treasurer's seat remains vacant. The trust next meets Jan. 16.