"Have you heard anything about the excess profits for the Crossroads 40B project? Can we get confirmation that the Board of Selectmen is still in negotiation?
Question, submitted by Sean Towey 12-6-07

Answer, from Dore' Hunter, Chairman Acton Board of Selectmen, 12-12-07 :

"The Town filed suit against the developers, in response they have moved to dismiss the action. That defendant's action to dismiss will be heard in the Lowell court on 8 January 2008 at 1400."

ActonForum note: We appreciate Mr. Towey's question and Chairman Hunter's prompt answer. The so-called Chapter 40B permit process, which allows a developer to bypass local zoning by obtaining a permit directly from the state, places a limit on the developer's profit. For the "Crossroads" project, the maximum allowable profit was 20%. As a result of an audit, the Inspector General has charged that the developer's profit was much higher, see the ActonForum website for the IG letter.

If it is determined that a developer did make an excess profit on a 40B project, such excess profits are payable to the town and can be used to promote additional affordable housing opportunity.

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