Guidelines for Certain Cash Payments under Section 4.40 of the Zoning By-law (Affordable Housing Requirements)

The following guidelines for cash payments were recommended by the Housing Advisory Board and adopted by the Planning Board at its public meeting of January 29, 1998, as per Section 4.40(f) of the Zoning By-law. These apply to condominium developments of 6 to 15 units where the developer has chosen to make a cash payment in lieu of providing on-site affordable unit(s).

Number of Units in Project	Contribution: percent of sales price exceeding $100,000*
6	3.00
7	3.33
8	3.67
9	4.00
10	4.33
11	4.67
12	5.00
13	5.33
14	5.67
15	6.00

* Payment is based upon a percent of the remainder of the sales prices after subtracting $100,000 from the actual sales price of each unit.