Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
SECTION 1. Notwithstanding any general or special law to the contrary, the town of Harwich may establish and maintain a special fund to be known as Affordable Housing Fund. The following monies shall be deposited into the fund: (1) the lease payments received pursuant to the terms of the lease between the town and Sprint Spectrum, L.P., for the lease of town land located off state highway route 137 as authorized under Article 4 of the 2001 special town meeting; (2) the proceeds from the sale of 6 parcels of land on Great Western road authorized under Article 55 of the 1999 annual town meeting and approved for transfer for affordable housing purposes under Article 6 of the 2004 special town meeting; (3) the proceeds from the sale of 6 lots authorized under Article 73 of the 2007 annual town meeting; (4) the proceeds from the sale of any other land or buildings provided that the town meeting specifically authorizes the dedication of the sale proceeds to the fund; (5) any monies received through private and public gifts, contributions and grants for affordable housing purposes; and (6) appropriations made to the fund by town meeting.
SECTION 2. The treasurer of the town of Harwich shall be the custodian of the fund and may deposit the monies in national banks or invest the same in securities as are legal for the investment of funds or in savings banks under the laws of the commonwealth or in federal savings and loan associations situated in the commonwealth. Any interest earned shall be added to and become part of the fund.
SECTION 3. To preserve, promote and increase affordable housing in the town of Harwich, the board of selectmen may expend fund monies to pay for research, acquisition, creation, construction, repair, maintenance, rehabilitation, program administration and legal and engineering costs associated with and incurred for affordable housing and to fund grants to the Harwich Housing Authority for any low-income rental assistance program sponsored by the authority.
SECTION 4. This act shall take effect upon its passage.
Approved January 10, 2009