Old Lyme commission discusses land, RFPs and whether to recruit developers or buy sites

Commission members used CHFA’s presentation as a springboard to discuss concrete town strategies: whether the town should buy parcels and issue an RFP or try first to recruit a developer who has identified a site. Commissioners noted limited town capacity and the practical challenges of assembling the financing stack for LIHTC projects.

Fred Benton and others argued that a private developer identifying a site is often the most straightforward route; commission members discussed alternatives including acquiring land (which could require a public referendum), targeting accessory dwelling units and commercial‑to‑housing conversions, and offering local financial incentives to encourage renovations that preserve affordability. The group authorized a commissioner to research potential parcels (with a buddy to avoid quorum problems) and to return findings to the full commission.