At 80 percent of median income, the people who would move in would be teachers, police officers and bank clerks, Main Streets says.
Because Beverly is over the 10 percent threshold for affordable housing, a developer could apply for a waiver to have fewer affordable units, Wallace said.
The City Council will meet tonight but is not scheduled to discuss the Rantoul Street proposal. The matter is still under discussion in the council’s Finance and Property subcommittee.
Councilors are considering such issues as how much of a tax break should be offered if the proposal passes, and whether measures can be taken to protect historically significant buildings in the district.
Staff writer Paul Leighton can be reached at 978-338-2675 or email@example.com.