A grant shortfall has prompted Wareham’s Community & Economic Development Authority to sell a 7.5-acre plot of land that it owns within the Bay Pointe Country Club.

Last year, the Community Economic Development Authority, commonly referred to as CEDA, learned it will receive a lower allotment from the federally-funded Community Development Block Grant in 2017. In past years, the grant brought $825,000 to town for various projects. This year, the grant is only for $675,000.

Administered by the U.S. Department of Housing and Urban Development through the Massachusetts Department of Housing and Community Development, the grant program awards money to communities for affordable housing projects, infrastructure development and programs for low-income residents.

Wareham has historically received the grant because of its high percentage of low- and moderate-income residents. Other communities must apply for the funds on a competitive basis.

Director of Planning & Community Development Ken Buckland cited the lower allotment as part of the decision to sell. He said plans call for using the funds to make up for the shortfall.

The property is currently valued at $467,300, according to the Wareham Town Assessors. It is the site of Bay Pointe’s clubhouse, which holds a pro shop and restaurant. It also includes a paved parking lot which stands as overflow parking for Bay Pointe’s newly-constructed primary clubhouse. The property borders Onset Avenue and Long Neck Road. Half of Bay Pointe’s main driveway is included in the sale property.

CEDA currently leases the property to developer Stonestreet Corp., to the tune of $28,000 per year. The minimum acceptable bid for the property is $600,000.

According to the invitation for bids, bidders are encouraged to propose uses which will “contribute to the town’s economic development and preservation of open space.”

The new property owner will decide whether or not to lease the property to Stonestreet.

Buckland said that with Bay Pointe’s developer returning before the Planning Board to get a housing project approved, now is the perfect time to sell. The Bay Pointe project has been a source of contention between the Planning Board and developer Stonestreet Corp.

Plans for a subdivision of 84 housing units centered around Bay Pointe Club’s golf course were delayed, as Stonestreet objected last year to Planning Board-imposed conditions related to water treatment and lot sizes.

Stonestreet filed a lawsuit against the board in Land Court, and the two parties have met behind closed doors for months to mediate the issue.

Recently, it appears that an agreement has been reached, as Stonestreet will bring a new application to the Planning Board for approval of the same development on March 13.

This renewed push for redevelopment, plus a need for funds, prompted CEDA to sell the property.