and 3-bedroom family units designed to address the desire of the neighborhood for

additional homeownership opportunities expressed in the Community Wide Planning

process. The overall affordability and income diversity mix is shown below in Table 2.4-1.

Table 2.4-1 Income Diversity Mix

260 Rental Units # of Units Percent Median

Low Income 200 Up to 50%

Moderate 41 60%-100%

Market 19 100% +

100 Homeownership Units

Moderate 26 80%-120%

Workforce/Market 74 140% +

The overall affordable percentages associated with Charlesview’s 360-unit program breaks
down as follows: Low Income units, 55 percent of the total program; Moderate Income
units, 19 percent of the program; and Market Rate units at 26 percent of the program.

By increasing the level of income mixing within the rental component and by the addition
of 100 homeownership units, the ratio of subsidized versus unsubsidized units within the
project stands at 55 percent subsidized to 45 percent unsubsidized.

2.4.1 Income Information

Area median income criteria and definitions used by affordable housing sources are based
on metropolitan Boston data. Area median income is presented to in Table 2.4-2 below:

2130/DPIR/Charlesview Redevelopment 2-7 Project Description

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Table 2.4-2 2009 HUD Boston Area Median Income

Annual Income Needed to Qualify for "Affordable" Housing Maximum Annual Housing Income for
Moderate Income Housing

50% Tier 60% Tier 80% Tier 100% Tier 120% Tier

50% of area median 60% of area median 80% of area median Area Median 120% of Area
Median

1 person 31,550 37,860 46,300 63,150 75,750

2 people 36,100 43,320 52,950 72,150 86,600

3 people 40,600 48,720 59,550 81,200 97,400

4 people 45,100 54,120 66,150 90,200 108,250

5 people 48,700 58,440 71,450 97,400 116,900

6 people 52,300 62,760 76,750 104,650 125,550

Maximum allowable Max. income to "Affordable" according to BRA standard

income to qualify for a qualify for a tax credit
Section 8 Unit rental apartment

These data show that the income of a four person household making 80 percent of US
HUD Boston-area AMI is $66,150. This household would qualify for an affordable
homeownership unit.

2.5 Consistency with Planning

This section discusses how the project fits with state, regional, and local planning initiatives.

2.5.1 Executive Order 385

Executive Order 385, “Planning for Growth” (EO 385), seeks to promote sustainable
economic development in the Commonwealth. The project will meet the objectives of the
Order which are to promote economic activity while protecting resources and minimizing
environmental impacts. The proposed project, as a mixed-use urban redevelopment,

2130/DPIR/Charlesview Redevelopment 2-8 Project Description

Epsilon Associates, Inc.