Bonfanti to veto buyouts

PEABODY-Mayor Michael Bonfanti released a written statement earlier this month announcing his decision to veto the Council?s ruling to eliminate Inclusionary Zoning buyouts.The Council voted 8-2 for its removal on Sept. 25, citing that the program had good intentions, but just didn?t come up to par.?It?s been to our detriment,” said Councilor Arthur Athas last month, who spearheaded the movement towards its removal.?It?s been three years since affordable housing was built under the ordinance.”The decision to allow developers to pay a cash buyout in lieu of creating affordable housing units within their structure was made with hopes of using those funds to develop and/or improve existing affordable units throughout the city.However, when nearly $1 million was paid to the city by the developers of Dearborn instead of building 67 low-income units, it took the city years to decide how to spend it.?It created a lot of bad blood when it was supposed to create affordable housing,” said Councilor Anne Manning. “It was a good idea with the right intent, but it just hasn?t panned out.”Bonfanti disagrees.?I believe a better approach would be to refine, rather than eliminate, the ordinance language in question,” he wrote. “My concern?is that if we remove the Cash Contribution provision this could have a chilling effect on future projects in Peabody as this provision provides some measure of flexibility to potential developers.”Bonfanti recommended including tighter controls, milestones, timelines and regular updates on the status of the project seeking to partake in a buyout.After six years in existence, Bonfanti said that it was time, rather, for a review of the ordinance by the City Council, which could prove to be beneficial.Councilors didn?t happen to take up Bonfanti?s veto Thursday night; instead, it was moved into subcommittee for further discussion and a re-vote.