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02-08-2023 Draft Regulatory Agreement- Dockside REGULATORY AGREEMENT 110 School Street and 115 School Street, HYANNIS This Regulatory Agreement ("Agreement") is entered into by and between the applicant, Shoestring Properties, LLC (the "Applicant" and/or "Developer"), a Massachusetts limited liability company with a mailing address of 297 North Street, Hyannis, Massachusetts 02601, and the Town of Barnstable (the "Town"), a municipal corporation with a mailing address of 367 Main Street, Hyannis, MA 02601, on this ____ day of __________, 2023, pursuant to Section 240-24.1 of the Barnstable Zoning Ordinance and Chapter 168 of the Code of the Town of Barnstable. WITNESSETH: WHEREAS, this Agreement shall establish the following: permitted uses, densities, traffic, and parking within the proposed Redevelopment (as defined herein), the duration of this Agreement, and any other terms and conditions mutually agreed upon between the Applicant and the Town; WHEREAS, pursuant to Section 168-3 of the Code of the Town of Barnstable, the Town of Barnstable is authorized to enter into a Regulatory Agreement with a qualified applicant within the Regulatory Agreement District, as the Town's Local Comprehensive Plan has been certified by the Cap e Cod Commission as consistent with the Regional Policy Plan and said certification has not been revoked, and the Town has adopted the enabling regulation contained in Sections 168-1 through 168-10; WHEREAS, Developer is the owner of the properties at 110 School Street, Hyannis, Massachusetts consisting of 32,870+/- square feet (0.75+/- acres), shown on Town of Barnstable Assessor‟s Map 326 as Parcel 121 and 115 School Street (formerly 53 South Street), Hyannis, Massachusetts consisting of 24,820+/- square feet (0.57+/- acres), shown on Town of Barnstable Assessor‟s Map 326 as Parcel 125. Collectively, the two parcels are referred to herein as “the Property”; WHEREAS, the parcel at 110 School Street is developed with a two-story building consisting of approximately 6,636 square feet, operating as a restaurant on the first floor with three residential apartments on the second floor and the parcel at 115 School Street is a vacant lot; WHEREAS, the Property has frontage on South Street to the north and is bisected by School Street and has access to School Street; WHEREAS, the Property consists of approximately 57,690 square feet of land and is located in the HD Harbor District zoning district; the Hyannis Main Street Waterfront Historic District; and the Aquifer Protection Overlay District; WHEREAS, Developer proposes to: redevelop the property by removing the existing restaurant, parking lot, retaining walls, foundation remnants, and subsurface drainage and construct twenty-nine (29) condominium units in two (2) buildings. The units will consist of eighteen (18) 3-bedroom units and eleven (11) 2-bedroom units. A total of 70 parking spaces will be provided. At least one parking space for each condominium unit will be located in underground garages beneath the condominium units. Some guest parking will be available in the underground garages and additional guest parking will be provided at street level. Also to be constructed are two (2) trash sheds; a swimming pool with pool deck; and a courtyard area. An 8-foot wide shared use path will be constructed along the property frontage on South Street and sidewalks running from South Street along each side of School Street to the end of the property are to be constructed. New lighting and landscaping will be installed, all as shown on the Redevelopment Plans listed below in paragraph 2; WHEREAS, the Redevelopment is consistent with the Town of Barnstable's Design and Infrastructure Plan in that the proposed project provides an 8-foot wide shared use path running along the Property frontage on South Street and sidewalks along each side of School Street to the end of the Property; the scale, placement, materials, design, and details of the re-developed building comply with the Design and Infrastructure Plan guidelines; and the project provides the infrastructure necessary to support the project; WHEREAS, the Town and Applicant desire to set forth in this Agreement their respective understandings and agreements with regard to the Redevelopment; WHEREAS, the Applicant is willing to commit to the reuse of the Property in accordance with this Agreement and desires to have a reasonable amount of flexibility to carry out the reuse and therefore considers this Agreement to be in its best interests; WHEREAS, this Agreement shall vest land use development rights in the property for the duration of the agreement, and such rights shall not be subject to subsequent changes in local development ordinances, with the exception of changes necessary to protect the public health, safety or welfare; WHEREAS, the Redevelopment will not require regulatory review under the Massachusetts Environmental Policy Act (MEPA); WHEREAS, the Property is located in the Downtown Hyannis Growth Incentive Zone (GIZ) as originally approved by the Cape Cod Commission by decision dated April 6, 2006 and re-designated by decision dated April 19, 2018, and as authorized by Barnstable County Ordinance 2005-13, as amended by Barnstable County Ordinance 10-19, 14-05, 17-11, and 18-11, Chapter G, Growth Incentive Zone Regulations of the Cape Cod Commission Regulations of General Application; WHEREAS, the Development is not subject to review by the Cape Cod Commission as a Development of Regional Impact due to its location in the GIZ and due to the adoption of Barnstable County Ordinance 2006-06, as amended by Barnstable County Ordinance 10- 19, 14-05, 17-11 and 18-02, establishing revised development thresholds within the GIZ, under which this development may proceed and Developer has submitted a Jurisdictional Determination to the Town of Barnstable Building Department to confirm the same; WHEREAS, the Redevelopment has undergone formal site plan review and the Town of Barnstable Site Plan Review Committee determined the Redevelopment Plans approvable by decision dated February 8, 2022, and Developer shall submit final plans consistent with the terms and conditions contained in this Agreement to the Building Commissioner to determine whether any modifications to the Site Plan Review approval are necessary prior to any building permits being issued for the Redevelopment; WHEREAS, the Redevelopment proposal has undergone formal review by the Hyannis Main Street Waterfront Historic District Commission on February 16, 2022 and received a Certificate for Demolition or Removal to tear down the existing building located at 110 School Street; WHEREAS, the Redevelopment proposal has undergone formal review by the Hyannis Main Street Waterfront Historic District Commission on February 16, 2022 and received a Certificate of Appropriateness for the proposed buildings. The issuance of the Certificate of Appropriateness was appealed and the Appeals Committee upheld the decision to issue the Certificate of Appropriateness at a meeting on April 26, 2022; WHEREAS, the Redevelopment has undergone formal review by the Town of Barnstable Conservation Commission on June 7, 2022 and the project received approval and an Order of Conditions was issued allowing the project to move forward; WHEREAS, the Redevelopment proposal has undergone a public hearing opened on August 8, 2022 and closed on ___________ on the Agreement application and received an affirmative majority vote from the Planning Board on __________, 2023; WHEREAS, the Redevelopment proposal has undergone a public hearing opened on __________ and closed on __________ on the Agreement application before the Barnstable Town Council and has received a two-thirds vote approving the Agreement on ______________, 2023; WHEREAS, this Agreement authorizes only the uses, intensity of uses, and dimensions specified herein. Any substantial deviation from the authorized terms of this Agreement shall require review by the Town Council and Planning Board pursuant to Chapter 168-10 of the Code; NOW, THEREFORE, in consideration of the agreements and covenants hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which each of the parties hereto hereby acknowledge to the other, Developer and the Town do enter into this Agreement, and hereby agree and covenant as follows: 1. Description of Existing and Proposed Conditions: A. Existing Conditions The Property is developed as follows:  The parcel at 110 School Street (“the East Parcel”) contains a two-story building consisting of approximately 6,636 square feet. The first floor is used as a restaurant and the second floor has three residential apartments;  The East Parcel has two curb cuts providing access to and from School Street;  There is a parking lot with 33 spaces; and  There is minimal landscaping.  The parcel at 115 School Street (formerly 53 South Street) – (“the West Parcel”) is a gravel lot;  The West Parcel has a retaining wall which was part of an old motel building;  The West Parcel has an undefined curb cut providing access to and from School Street; and  There is no landscaping. B. Proposed Redevelopment 1. The proposed Redevelopment involves development as follows and as shown on the Redevelopment Plans listed below in paragraph 2:  On the East Parcel, the restaurant building, retaining walls, parking lot pavement, and subsurface drainage areas will be demolished and removed from the site; o A new multi-family housing building containing 15 units will be constructed with the exterior consisting of cement fiber shingles of differing shades of grey with white trim and some stone work; o The building will consist of a mixture of 4 two-bedroom condominium units and 11 three-bedroom condominium units; o Multiple porches, patio areas, and a pool with patio are to be constructed; o An underground parking garage with 33 spaces will be constructed under the building along with 8 parking spaces and a drop-off area at street level; o A refuse shed will be constructed off of School Street; o All utilities will be placed underground and new granite curbing and a rebuilt 8-foot wide shared-use path will be constructed along the parcel frontage on South Street and a 5-foot-wide sidewalk will be constructed along the parcel frontage on School Street; and o New drainage facilities will be installed.  On the West Parcel, the old motel retaining/foundation wall will be demolished and removed. The subsurface drainage shall be demolished and removed and the overhead wires and poles will be removed; o A new multi-family housing building containing 14 units will be constructed with the exterior consisting of cement fiber shingles of differing shades of grey with white trim and some stone work; o The building will consist of 7 two-bedroom condominium units and 7 three-bedroom condominium units; o Multiple porches and patio areas are to be constructed; o An underground parking garage with 27 spaces will be constructed under the building along with 2 parking spaces and a drop-off area at street level; o A refuse shed will be constructed off of South Street;  All utilities will be placed underground and new granite curbing and a rebuilt 8-foot wide shared-use path will be constructed along the parcel frontage on South Street and a 5-foot wide sidewalk will be constructed along the parcel frontage on School Street;  New drainage facilities will be installed.  The roadway of School Street between the properties will be removed, all utilities placed underground, and a full depth of pavement rebuilt with new gravel and granite curbing with four inches of bituminous concrete and new pavement markings installed to town subdivision specifications as indicated on the plans; and  Trees and landscape and bollard pedestrian lighting will be installed along the roadway as indicated on the plans.  The intersection of School Street and South Street will be re-built in accordance with the Town of Barnstable Department of Public Works plan entitled “Markups to Applicant‟s Plan” which was submitted to the Dockside Condominiums Regulatory Agreement Subcommittee on October 13, 2022, except that the Town of Barnstable will be responsible for any pedestrian signals and beacons. 2. The Developer agrees to construct the Redevelopment on the Property in accordance with the Redevelopment Plans which are submitted herewith and which are entitled as follows: a. “Layout Site Plan of Land in (Hyannis) Barnstable, MA Prepared For Shoestring Properties LLC Date: 1-24-2022, Revised: 2-2-2022 and 6-30- 2022 (SPR comments), Revised: 4-12-2022 (Formal SPR comments), Revised 8-2-2022, Revised 11-30-22, Revised 1-11-2023” drawn by Down Cape Engineering, Inc., Sheet 1/6; b. “Landscape Site Plan of Land in (Hyannis) Barnstable, MA Prepared For Shoestring Properties LLC Date: 1-24-2022, Revised: 2-2-2022 and 6-30- 2022 (SPR comments), Revised: 4-12-2022 (Formal SPR comments), Revised 8-2-2022, Revised 11-30-22, Revised 1-11-2023” drawn by Down Cape Engineering, Inc., Sheet 2/6; c. “Existing Conditions/Demolition Site Plan of Land in (Hyannis) Barnstable, MA Prepared For Shoestring Properties LLC Date: 1 -24-2022, Revised: 2-2-2022 and 6-30-2022 (SPR comments), Revised: 4-12-2022 (Formal SPR comments), Revised 8-2-2022, Revised 11-30-2022, Revised 1- 11-2023” drawn by Down Cape Engineering, Inc., Sheet 3/6; d. “Utilities Site Plan of Land in (Hyannis) Barnstable, MA Prepared For Shoestring Properties LLC Date: 1-24-2022, Revised: 2-2-2022 and 6-30- 2022 (SPR comments), Revised: 4-12-2022 (Formal SPR comments), Revised 8-2-2022, Revised 11-30-2022, Revised 1-11-2023” drawn by Down Cape Engineering, Inc., Sheet 4/6; e. “Grading Site Plan of Land in (Hyannis) Barnstable, MA Prepared For Shoestring Properties LLC Date: 1-24-2022, Revised: 2-2-2022 and 6-30- 2022 (SPR comments), Revised: 4-12-2022 (Formal SPR comments), Revised 8-2-2022, Revised 11-30-2022, Revised 1-11-2023” drawn by Down Cape Engineering, Inc., Sheet 5/6; f. “Detail Sheet to Accompany Site Plan of Land in (Hyannis) Barnstable, MA Prepared For Shoestring Properties LLC Date: 1-24-2022, Revised: 2-2- 2022 and 6-30-2022 (SPR comments), Revised: 4-12-2022 (Formal SPR comments), Revised 8-2-2022, Revised 11-30-2022, Revised 1-11-2023” drawn by Down Cape Engineering, Inc., Sheet 6/6; g. ”Conservation Planting Plan Scale 1” = 10‟0” Sheet L2 Plan Date: 12.07.16 Revisions: Num. 1 Date 7/20/22 Update Planting per elimination of 1 parking space” drawn by Hawk Design, Inc.; h. “Title Sheet Permit Set Hyannis Dockside Condos 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet T-1; i. “Building Program First Floor Level 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-011; j. “Building Program Upper Levels 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-021; k. “Garage Floor Plan 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-101; l. “First Floor Plan 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-111; m. “Second Floor Plan 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-121; n. “Third Floor Plan 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-131; o. “Fourth Floor Plan 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-141; p. “Mezzanine Floor Plan 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23, Revised 01/13/23” drawn by Gienapp Architects, Sheet A-151; q. “Roof Plan 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-171; r. “Building Elevations 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-201; s. “Building Elevations 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-202; t. “Building Elevations 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-203; u. “Building Elevations 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-204; v. “Building Eave Heights 110 School Street & 115 School Street, Hyannis, MA 02601 Plan Date: 06/29/22, Revised 12/05/22, Revised 01/10/23” drawn by Gienapp Architects, Sheet A-210; and w. Town of Barnstable Department of Public Works plan entitled “Markups to Applicant‟s Plan” (except no pedestrian signals/beacons). 3. Developer shall establish a condominium association or unit owners association to carry out the ongoing maintenance and upkeep of the property and buildings as well as complying with the terms and conditions of this Agreement. The association shall include all residential condominium units. The form and content of condominium association documents, including the condominium master deed and association bylaws, shall be approved by the Town of Barnstable Legal Department prior to the sale of any condominium units. Included in the documents shall be a prohibition on leasing any unit for a period of less than one month (and no more than one lease in any one year) and a prohibition against subletting any unit; 4. The site shall be landscaped consistent with the landscaping plan identified in paragraph 2, above. All landscaping within the development shall be low water use and shall minimize the use of fertilizers and pesticides; 5. Utilities shall be buried underground within the Property; 6. Prior to the issuance of the first building permit, the Developer shall provide a letter of credit or cash escrow in an amount equivalent to 150% of the total scope of the landscape plan proposed. Said Letter of Credit or cash to be expended on the replacement of landscape materials if such replacement becomes necessary. The letter of credit or cash escrow shall be approve d by the Planning and Development Director, said letter of credit or cash escrow to be expended to replace landscape materials if such replacement becomes necessary because of the failure of Developer or its tenants to do so. An “acceptable” letter of credit is a letter of credit issued by a bank incorporated in the Commonwealth of Massachusetts or currently licensed to do business in the Commonwealth, and having at the time of issue of the letter of credit a Standard & Poor (“S&P”) Rating of "BBB+" or better and/or a Bankrate.com rating of 4 -star or better. Further, an acceptable letter of credit shall be approved as to issuer by the Treasurer of the Town of Barnstable and as to form by the Office of the Town Attorney. Any unexpended portion of said letter of credit or cash escrow shall be released by the Planning Board to the Developer or its successor(s), as directed by the Developer, after three years from the date of the landscape installation, such date to be determined by the Building Commissioner, upon the request of the Developer; 7. Letter of Credit: To ensure completion of work within public ways and roadway restoration, Developer will provide a Letter of Credit or cash in an amount to be approved by the Planning Board or its designee, said Letter of Credit or cash to be expended on completion of work within the public ways and roadway restoration if completion of such work becomes necessary. Any unexpended portion of said Letter of Credit or cash shall be released by the Planning Board to Developer or his successor(s) after thirty (30) days from the date of the final acceptance of all work within the public ways, such date to be determined by the Town Engineer, upon the request of Developer; 8. All plumbing fixtures in the new units shall be low water use fixtures and other water conservation measures are encouraged in the design and development of the project; 9. Consistent with approved plans, Developer shall construct a Passive Stormwater Maintenance and Infiltration System to service the Development; 10. Developer or its successor will assume all maintenance responsibilities for the Passive Stormwater System servicing the Property, and the landscaping and irrigation at the Property; 11. Developer shall provide calculations demonstrating adequate water flow for fire suppression prepared by a fire protection engineer as required by the Hyannis Fire Department; 12. Developer is responsible for obtaining all applicable permits and lic enses, including but not limited to the following: foundation permit, building permit, street excavation permit (necessary for work in all public spaces,), sewer permits and water permits. Only Town of Barnstable approved contractors are allowed to work on Town owned property. Contractors are required to have the insurance stipulated in the Street Excavation Rules and Regulations (SERR) and all work on town property must comply with all provisions of SERR. All work within the public way and public utility services shall be to Town Standards. All plans shall be reviewed and approved by the Department of Public Works prior to initiating any work within the public way; 13. Developer shall complete construction work in accordance with a construction schedule and sequencing plan submitted to the Town prior to the commencement of construction. Developer reserves the right to construct the project in two (2) phases. All improvements to public infrastructure shall be completed within Phase 1 except the final top coat of School Street shall be completed prior to final occupancy for the Project. All improvements to the public infrastructure shall be reviewed, inspected, and approved by the Barnstable Town Engineer, or his/her designee, prior to final occupancy within Phase 1. Public infrastructure construction detail specifications shall be reviewed and approved by the Barnstable Town Engineer, or their designee, prior to installation of public infrastructure. Failure to install public infrastructure in a timely manner and/or failure to install public infrastructure approved by the Town Engineer, or their designee shall be a violation of this agreement and may result in a cease and desist order by the Town of Barnstable until the violation of this agreement is remedied. To the extent construction impacts public property or public rights of passage, changes in the schedule, if needed as work progresses, are subject to the approval of the Town. The construction schedule shall, to the maximum extent feasible, avoid interference with ferry truck traffic. The developer shall notify the Town of Barnstable Planning and Development and the Department of Public Works at least 48 hours in advance of working on Town property. The Developer will be responsible for all construction signage, directional signs, and police officers necessary for the performance of the work; 14. Exterior construction impacts shall be minimized, and construction shall be limited to the hours of 7:00 a.m. to 6:00 p.m. weekdays, and 8:30 a.m. to 2:00 p.m. Saturdays. No exterior construction shall occur on Sundays. The Building Commissioner shall establish protocols to minimize the location of staging, noise, dust, and vibration; 15. During all stages in the demolition, rehabilitation and new construction, all vehicles, equipment and materials associated with the development shall be required to be located off the right of way of South Street and School Street except as may be required to install utilities, and work authorized by this Agreement and as approved by Public Works and then only on a temporary basis; 16. Developer may install a trailer to be used as a construction office during construction of the Development. The location of the trailer on the premises is to be approved by the Town of Barnstable Building Commissioner in cooperation with the Hyannis Fire Department; 17. Developer may install a second trailer to be used as a sales office. The location of the trailer on the premises is to be approved by the Town of Barnstable Building Commissioner in cooperation with the Hyannis Fire Department; 18. The Developer shall provide a signage plan for review and approval of the Hyannis Main Street Waterfront Historic District Commission prior to a building permit for permanent signage on Site; 19. To the extent that the referenced plans do not depict all of the findings and conditions as set forth in this Agreement, revised plans and/or notations shall be provided. In addition to permits, plans and approvals listed above, any and all permits and licenses required shall be obtained; 20. Each residential unit shall have at least one dedicated parking space; 21. The Developer shall provide five (5) )Offsite Affordable Housing Rental Units in the Town of Barnstable (“Offsite Affordable Units”).. Each unit shall contain 3- bedrooms. The units shall be deed restricted in perpetuity in accordance with the conditions herein; i. Units shall be qualified affordable units to tenants with qualifying incomes as defined by the U.S. Department of Housing and Urban Development; ii. Such residential dwelling units shall remain affordable in perpetuity and shall provide a deed restriction, regulatory agreement and monitoring agreement and similar documentation as may be required by and approved by the Barnstable Town Attorney and Dept. of Housing and Community Development. iii. The Developer shall record a „Regulatory Agreement and Declaration of Restrictive Covenants‟, in form and content approved by the Town Attorney and Dept. of Housing and Community Development assuring that the affordable units will remain dedicated as such in perpetuity and that they are protected in the event of a foreclosure from loss of their affordable status. iv. The Developer shall retain a monitoring agent for this development and prepare a Monitoring Services Agreement in a form and content as approved by the Town Attorney. The monitoring agent shall provide an annual report to the Planning Board demonstrating compliance with required conditions. v. All costs associated with monitoring for consistency with the affordable housing Regulatory Agreement shall be borne by the Applicant. vi. Developer shall prepare a Local Action Unit application for approval by Barnstable Local Housing Partnership, Town Manager, and Dept. of Housing and Community Development. vii. Developer shall prepare and implement an Affirmative Fair Housing Marketing and Tenant Selection Plan that satisfies Local Initiative Program requirements for approval by Town Attorney and Department of Housing and Community Development. viii. The Offsite Affordable Units shall not be segregated within the building in which they are located. The Offsite Affordable Units shall satisfy the design and construction standards and guidelines of the Local Initiative Program with regard to distinguishability from market rate units. It is the intent of this section that the affordable units shall be eligible for inclusion in the DHCD Subsidized Housing Inventory as LIP units. 22. The monthly rents charged to tenants of three (3) of the Offsite Affordable Units shall not exceed an amount equal to thirty percent (30%) of the monthly adjusted income of a Family whose gross income equals sixty-five percent (65%) of the median income for the Area (as provided by HUD), with adjustment for the number of bedrooms in the Units. The monthly rents charged to tenants of two (2) of the Offsite Affordable Units shall not exceed an amount equal to thirty percent (30%) of the monthly adjusted income of a Family whose gross income equals eighty percent (80%) of the median income for the Area (as provided by HUD), with adjustment for the number of bedrooms in the Units. i. In determining the maximum monthly rent that may be charged for the Affordable Units under this clause, the Owner shall include an allowance for any utilities and services to be paid by the resident. The Owner shall annually submit proposed rents to the Town of Barnstable for approval. 23. No Building Permit for the development authorized in Paragraph 2 herein shall issue unless and until the Developer submits credible evidence to Town Attorney‟s Office that it has submitted a Local Initiative Program (LIP) Application and the fees, if any, to the Department of Housing and Community Development for the creation of the off-site affordable housing units at 310 Barnstable Road, Hyannis Massachusetts. 24. The affordable housing „Regulatory Agreement and Declaration of Restrictive Covenants‟ for the Offsite Affordable Units shall be recorded at the Barnstable County Registry of Deeds prior to the issuance of any occupancy permit for the development authorized in Paragraph 2 herein. 25. The rental units on the property shall be registered with the Building and Health Divisions as required. 26. The construction of the condominium complex will result in the following benefits to the Town: a. Above ground utility lines will be put underground improving the view looking from South Street toward the harbor. b. The existing sidewalks along the property frontage on South Street and the intersection at South Street and School Street shall be improved as shown on the Town of Barnstable, Department of Public Works Plan entitled „Markups to Applicant‟s Plan‟ attached hereto. c. The existing sidewalks along School Street which do not comply with Americans With Disabilities Act requirements will be removed and replaced with compliant sidewalks. The sidewalks will comply with Town of Barnstable requirements for public sidewalks. The sidewalks along each side of School Street will be constructed connecting them to the sidewalks on South Street. Upon completion of construction, the Town will be granted an easement allowing public use of the sidewalks. Said easement shall be reviewed as to form by the Town Attorney and shall be granted in perpetuity and recorded at the Barnstable County Registry of Deeds by the Developer. d. A new water main will be provided which will improve the infrastructure of the Hyannis Water Company and improve the water pressure and volume of water to the hydrant located near the Town Landing. e. School Street from South Street to the end of the public way near Hyannis Harbor will be paved over with a new top coating of asphalt. f. Crosswalks will be provided at the northerly end of School Street where it intersects with South Street, at the southerly end of the property near the Steamship Authority property; and between the condominium buildings as shown on the plans submitted. g. Vastly improved landscaping along South Street and School Street beautifying the area. h. Lighting on condominium property maintained by condominium association will provide street lighting along School Street. Currently, there is no street lighting along this portion of School Street; i. Increase in Town property tax revenue. j. New street drains will be installed in School Street and a drainage easement running in favor of the Town of Barnstable will be provided. k. Electric car plug-in stations will be provided. l. All plumbing fixtures in the new units shall be low water use fixtures and other water conservation measures are encouraged in the design and development of the project. m. An increase in the number of Housing Units which can be counted towards the Town‟s goal of having 10% of its housing stock affordable housing. 27. The Town hereby grants waivers from the following Zoning Ordinance sections: a. Section 240-24.1.7 B (2) HD Harbor District Special Permits allows multi-family residential development totaling not more than seven units per acre. This requirement shall be waived to allow twenty-nine condominium units on 1.32+/- acres, an overall density of 22 units per acre. The parcel at 115 School Street has a density of 25 units per acre. The parcel at 110 School Street has a density of 20 units per acre. b. Section 240.24.1.7 C. Dimensional, bulk and other requirements: - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback for the West Building of 15.8 +/- feet from South Street on the property located at 115 School Street. - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback for the East Building of 19.0 +/- feet from South Street on the property located at 110 School Street. - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback for the West Building of 8.1+/- feet from School Street on the property located at 115 School Street. - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback for the East Building of 10.2+/- feet from School Street for the property located at 110 School Street. - Minimum Side Yard Setback of 10 feet is waived to allow a Side Yard Setback of 9.7+/- feet for the East Building on the property located at 110 School Street. - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback for the refuse shed of 7.5+/- feet from South Street on the property located at 115 School Street. - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback for the refuse shed of 7.3+/- feet from School Street on the property located at 110 School Street. - Minimum Front Yard Landscape Setback of 10 feet is waived for School Street. - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback of 0+/- feet from School Street for the Front Egress Stair of the West Building on the property located at 115 School Street. - Minimum Front Yard Setback of 20 feet is waived to allow a Front Yard Setback of 0+/- feet from School Street for the Front Egress Stair of the East Building on the property located at 110 School Street. - Minimum Rear Yard Setback of 10 feet is waived to allow a Rear Yard Setback of 8.9+/- feet for the West Building on the property located at 115 School Street. - Minimum Rear Yard Setback of 10 feet is waived to allow a Rear Yard Setback of 9.7+/- feet for the East Building on the property located at 110 School Street. - Maximum Building Height of 35 feet is waived to allow a Maximum Building Height of 62.38+/- feet for the West Building on the property located at 115 School Street. - Maximum Building Height of 35 feet is waived to allow a Maximum Building Height of 59.98+/- feet for the East Building on the property located at 110 School Street. - Maximum Building Height Stories of 2.5 stories is waived to allow a Maximum Building Height Stories of four and one half (4.5) stories for the West Building on the property located at 115 School Street. - Maximum Building Height Stories of 2.5 stories is waived to allow a Maximum Building Height Stories of four and one half (4.5) stories for the East Building on the property located at 110 School Street. - Maximum Building Lot Coverage of 70% is waived to allow Maximum Building Lot Coverage of 76.7% for the West Building on the property located at 115 School Street. - Maximum Building Lot Coverage of 70% is waived to allow Maximum Building Lot Coverage of 76.0% for the East Building on the property located at 110 School Street. c. Section 240.24.1.11 (A) (5) (b) requires a 10-foot front yard landscaped setback from the road lot line unless otherwise specified. Waived for School Street. d. Section 240-52 A. Design and Screening Standards for off-street parking and 240-24.1.11 A. (4)(c)[2] parking design standards require each off-street parking space to have minimum dimensions of 9 feet by 20 feet excluding the driveway to such space. Waived to allow all spaces to have dimensions of 9 feet by19 feet. e. Section 240-52 C. Design and screening standards for off-street parking require parking areas for five or more cars be designated with enough maneuvering space so that vehicles need not back onto a public way. Waived to allow vehicles to back onto School Street. Additionally, 240-24.1.11 A. (4)(c)[3] parking design standards defines that maneuvering space shall be provided so that vehicles need not back onto a public way. f. Section 240-53 B. (1) Landscape requirements for parking lots in all office and commercial districts requires the surfaced area of a parking lot and all entrance and exit drives be set back from the side and rear lot lines by a landscaped buffer of 10 feet. Waived to allow a landscaped buffer of 0 feet on the property located at 115 School Street. g. Section 240-53 B. (1) Landscape requirements for parking lots in all office and commercial districts requires the surfaced area of a parking lot and all entrance and exit drives be set back from the side and rear lot lines by a landscaped buffer of 10 feet. Waived to allow a landscaped buffer of 0 feet on the property located at 110 School Street. h. Section 240-53 B. (2) Landscape requirements for parking lots in all office and commercial districts requires a ten-foot minimum, landscaped perimeter buffer be maintained between a building and the surfaced area of a parking lot or drive. Waived to allow a landscaped perimeter buffer of 0 feet on the property located at 115 School Street. i. Section 240-53 B. (2) Landscape requirements for parking lots in all office and commercial districts requires a ten-foot minimum, landscaped perimeter buffer be maintained between a building and the surfaced area of a parking lot or drive. Waived to allow a landscaped perimeter buffer of 0 feet on the property located at 110 School Street. j. Section 240-53 C. Landscape requirements for parking lots with 21 or more parking spaces requires at least 10% of the interior of the parking lot be landscaped. Waived to allow 0% landscaping in the underground garages on the West and East parcels. k. Section 240-104 Minimum parking lot design standards require parking lot aisles to be 24 feet wide. Waived to allow aisle widths of less than 24 feet. l. Section 240-104 Minimum parking lot design standards require parking spaces to be 9 feet by 20 feet. Waived to allow spaces within the underground garages to be 9 feet by 19 feet. m. Section 240.103 E. (1) requires any outdoor lighting shall be directed on site only. Waived to allow lighting to illuminate sidewalks and traveled ways. n. Section 240.24.1.11 (A) (7) requires any outdoor lighting be directed on site only. Waived to allow lighting to illuminate sidewalk and traveled ways. o. 240-24.1.11 (A) (5)(f) Street trees. One deciduous tree is required to be planted within the front setback for every 30 feet of frontage of the property. Waived for the parking lots fronting on School Street. p. 240-24.1.11 (A)(4)(d) Parking lot landscaping. One three-inch caliper tree must be provided for every five parking spaces and must be located within 50 feet of the parking lot. Parking lots with five or more spaces are required to provide a six foot landscape buffer between property lines and parking spaces. Relief is waived for the five parking spaces located on School Street. 28. The Town hereby grants waivers from the following General Ordinances of the Town: a. Chapter 9 Article I Inclusionary Affordable Housing Requirements Section 9-4-D requires at least 10% of the residential units constructed be dedicated by deed restriction to affordable housing units. Waived. Developer will provide five (5) off- site rental units (three at 65%AMI and two at 80%AMI) at 310 Barnstable Road. consisting of five 3-bedroom units which will be deed restricted in perpetuity; b. Chapter 112, Article III requires the proposed Development obtain a Certificate of Appropriateness from the Hyannis Main Street Waterfront Historic District Committee (“HMWHDC”). Waived for changes to the Development made after the issuance of a Certificate of Appropriateness for the project by the HMWHDC at their meeting held on February 16, 2022. c. The Developer shall construct the five off-site rental units in accordance with the attached floor plans entitled: i. „Preliminary First Floor Plan‟ A-1 Apartment Conversion dated October 31, 2022, prepared for Stuart Bornstein and drawn by DML of Daniel Lewis AIA Architect, Job Number 2206. ii. „Preliminary Second Floor Plan‟ A-2 Apartment Conversion dated October 31, 2022 prepared for Stuart Bornstein and drawn by DML of Daniel Lewis AIA Architect, Job Number 2206. iii. „Preliminary Third Floor Plan‟ A-3 Apartment Conversion dated October 31, 2022 prepared for Stuart Bornstein and drawn by DML of Daniel Lewis AIA Architect, Job Number 2206. 29. The Town of Barnstable will grant to Developer, its successors and/or assigns, a license to allow the condominium development the exclusive right to use the ten (10) ground-level parking spaces located partially within the public way layout of School Street and partially on the Property. 30. This Agreement shall run with the land, and all of the terms, conditions, and obligations contained in this Agreement shall be binding on any successor or assignor of the Applicant for as long as the property is used in accordance with this agreement and unless and until it is redeveloped further into some other use. 31. No Certificate of Occupancy shall be issued until all conditions of this Agreement have been met and Design and Infrastructure Plan approval has been issued or until the Developer, its successors and/or assigns have deposited with the Planning and Development Department a satisfactory bond in the name of the Town of Barnstable from a surety company authorized to do business in the Commonwealth of Massachusetts (or alternatively a certified check payable to the Town of Barnstable) in an amount and form as shall be determined by the Planning & Development Director. The bond shall be conditioned substantially that the Developer shall guarantee the faithful and satisfactory performance of the work in all respects. 32. This Agreement is transferable to a person or entity other than the Applicant (hereafter, the "Transferee") with prior written notice to the Town Manager and contingent upon the Applicant being in compliance with all the requirements of this Agreement. However, no such notice to the Town shall be effective unless it includes a written acknowledgement by the Transferee that they have read this Regulatory Agreement, and any amendments thereto, and they agree to be bound by the terms and conditions set forth herein, in which event after such assignment the transferor shall be relieved of liability from and after the date of transfer. Upon receipt of such written notice of transfer, and subject to a determination by the Town Manager that that the Applicant is in compliance with all the then applicable requirements of the Agreement, the Transferee and the Town Manager shall execute a minor amendment of this Regulatory Agreement acknowledging the Transferee is a signatory of this Regulatory Agreement, agreeing to be bound by the terms and conditions set forth herein, and any subsequent amendments hereto, and assuming liability as of the date of transfer. No Planning Board or Town Council approval is required for such a minor amendment acknowledging such a transfer in ownership. 33. Upon receiving a Certificate of Occupancy, the Developer, its successor, and/or its assigns shall employ at least one (1) individual who will serve as a full-time on-site property manager. The property manager‟s duties shall include keeping School Street available for use by emergency vehicles and/or first responders by ensuring that it remains unobstructed to the greatest extent practicable. 34. The development rights granted hereunder shall be exercised and development permits needed to commence construction may be obtained hereunder for a period of eight (8) years from the effective date of this Agreement, provided, however, that prior to the expiration of said eight-year period, the Developer may request an extension to obtain development permits necessary to commence construction, said extension shall not exceed two years. An extension shall be authorized by the Town Manager only after the Agreement Extension has been discussed and recommended by the Planning Board at a regularly scheduled meeting of the Board. Upon receipt of necessary development permits, construction shall proceed continuously and expeditiously, but in no case shall construction exceed two years from receipt of necessary development permits. The Developer may request an extension to obtain an extension of the construction timeframe; said extension shall not exceed two years. An extension shall be authorized by the Town Manager only after the extension has been discussed and recommended by the Planning Board at a regularly scheduled meeting of the Board. In the event that this Agreement and/or any necessary development permits for the Project are appealed, the timeframes set forth in this section shall be tolled for the length of any such appeals. 35. Construction and demolition debris from the Project shall be removed and reused or recycled to the maximum extent possible. 36. No uses shall use, store, generate, treat or dispose of hazardous waste or hazardous materials and shall not generate hazardous waste as defined in the Massachusetts Hazardous Waste Regulations, 310 CMR Section 30.353, except in compliance with all applicable laws. 37. To the extent that the Redevelopment Plans referenced in this Agreement do not depict all the findings and conditions set forth in this Agreement, revised plans and/or notations shall be provided in the final site plan. The Redevelopment shall remain in substantial conformance with the Site Plan Review approval dated May 10, 2021 and all conditions thereof and any modifications thereto as reflected in the final approved site plan. 38. Upon completion of all work, a registered engineer or land surveyor shall submit a letter of certification, made upon knowledge and belief in accordance with professional standards that all work has been done in substantial compliance with the approved site plan (Barnstable Code Section 240-104(G)). This document shall be submitted before the issuance of the final certificate of occupancy. 39. The term of this Agreement shall be eight (8) years from the effective date of the Agreement (herein, the "Term"), and the development rights authorized herein must be exercised prior to expiration of the Term or this Agreement shall be null and void, subject to the potential tolling due to litigation referenced in paragraph 16. Once the development rights authorized herein have been timely exercised, all terms and conditions of this Agreement shall remain in effect until the Property is no longer used in accordance with the Redevelopment Plans. 40. The failure of this agreement to address a particular permit, condition, term, or restrictions shall not relieve the qualified applicant of the necessity of complying with the law governing said permitting requirements, conditions, term or restriction. 41. This regulatory agreement may not be used to prevent the Town of Barnstable or other governmental agency from requiring the qualified applicant to comply with the laws, rules and regulations and policies enacted after the date of the regulatory agreement, if the Town of Barnstable or governmental agency determines that the imposition of and compliance with the newly effective laws and regulations are essential to ensure the public health, safety or welfare of the residents of all or part of the jurisdiction. IN WITNESS WHEREOF, the parties have hereunto caused this Agreement to be executed on the day and year first above written. Applicant: Town of Barnstable: Signature: Signature: Print: Print: Date: Date: PROPERTY DESCRIPTION PARCEL I The land with the buildings and improvements thereon, situated in Barnstable (Hyannis), Barnstable County, Massachusetts as follows: North Parcel as shown on a plan entitled “Plan of Land in (Hyannis) Barnstable Prepared for Shoestring Properties LP Date: November 3, 2011 Scale 1”=20‟ down cape engineering, inc., civil engineers land surveyors 93 Main Street (Rt 6A) Yarmouthport MA 02675,” which plan is recorded with the Barnstable County Registry of Deeds in Plan Book 642, Page 74. PARCEL II The land located in Barnstable (Hyannis) bounded and described as follows: West Parcel as shown on a plan entitled “Plan of Land in (Hyannis) Barnstable Prepared for Shoestring Properties LP Date: November 3, 2011 Scale 1”=20‟ down cape engineering, inc., civil engineers land surveyors 93 Main Street (Rt 6A) Yarmouthport MA 02675,” which plan is recorded with the Barnstable County Registry of Deeds in Plan Book 642, Page 74. ASSENT TO REGULATORY AGREEMENT The undersigned, Shoestring Properties, LLC, (the “Applicant” and/or “Developer”) a Massachusetts limited liability company of 297 North Street, Hyannis MA, the owner of property in Hyannis, Barnstable County, Massachusetts, does hereby consent to the recording of a Regulatory Agreement by and between Shoestring Properties, LLC, a Massachusetts limited liability company and the Town of Barnstable dated ______ __, 2023. Shoestring Properties, LLC, further agrees to be bound by the terms and conditions contained in said Regulatory Agreement. Executed this ___ day of ______, 2023. Applicant: Signature: Print: Date: