Requesting the appropriation of $365,000 from the Community Preservation Act Fund to the Somerville Community Land Trust for restoration of 12 Pleasant Avenue.

To the Honorable City Council: The Mayor respectfully requests that this Council appropriate $365,000 from the Community Preservation Act Fund, including $91,028 from the Historic Preservation Reserve and $273,972 from the Budgeted Reserve, to the Somerville Community Land Trust for restoration of 12 Pleasant Ave, known as the Elijah Walker House. The appropriation for this blended project will be allocated to both the Historic Preservation (Fund # 3252) and Affordable Housing (Fund #3253) CPA categories. The following funding conditions have been placed on the project: 1. The Somerville Community Land Trust agrees to execute and record a perpetual Preservation Restriction on its property, the Elijah Walker House at 12 Pleasant Ave. 2. Affordability restrictions on at least 30% of the units will be put in place in coordination with the Affordable housing Trust. Details of this request are available in the attached funding recommendation from the Community Preservation Committee. Appropriate staff will be available to address any questions you may have. Thank you for your consideration of this item. Respectfully Submitted, Katjana Ballantyne, Mayor