[Amended 5-5-2011 ATM by Art. 18]
The purpose of this bylaw is to encourage development of new housing that is affordable to low- and moderate-income households. At minimum, affordable housing produced through this regulation should be in compliance with the requirements set forth in MGL c. 40B, §§ 20 to 23 and other affordable housing programs developed by state, county and local government. It is intended that the affordable housing units that result from this bylaw be considered as local initiative units, in compliance with the requirements for the same as specified by the Department of Housing and Community Development (DHCD). The definition of "affordable housing unit" can be found in § 25.2.
Affordable housing integrated in housing developments provides many benefits to Hadley, including:
25.1.1.
To expand housing opportunities.
25.1.2.
To allow our sons and daughters to remain in Hadley.
25.1.3.
To fulfill our social contract to those in need.
25.1.4.
To provide economic diversity in our community.
25.1.5.
To ensure housing that is necessary to retain and attract industrial, service, and commercial jobs.
25.1.6.
To gain and retain full local control of new affordable housing projects.
25.1.7.
To mitigate the financial costs and loss of local control that incur if the community must pay for new affordable housing to prevent its ratio of affordable housing from dropping.
25.1.8.
To prevent market-rate and high-end-only housing projects that effectively increase the cost of housing in Hadley and make the community more economically homogenous.