2022-04-27-AHTSC-min - Laserfiche WebLink

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Mr.Johnson walked through the slide and gave details about a few projects and discussed the approaches taken by AHT, collaborations made to facilitate projects, models of production and, source of funding.The Trust was deeded a parcel that was sold and the result boosted their reserves by$300k in cash. It doesn't show the cash that comes through the HOME consortium, which contributed to several programs, including the down payment assistance program.The Trust did a rental assistance program over the last couple of years due to Covid issues.The town has an inclusionary zoning law that could result in $800k. But the Trust is looking for CPA for reliable ongoing funding. There was a close relationship between the Housing Authority and the Trust with ideas going back and forth.The Cedar Gardens 2 accessible units (out of 200) were a result of this.Another vacant duplex the Housing Authority had was developed with HOME funds. Another vacant congregate property of the Housing Authority(shared bathrooms)was redone with HOME funds and 10 units were rented out for a budget of$1.2M with DHDC funding. There's a surplus school in South Natick where the Trust is trying run the RFP process for 24-25 senior housing. Ms. Mizrahi wanted to know if Natick AHT hires consultants to do RFPs and also when trust money is being granted for larger projects, if they had the benefit of leveraging funds from the consortium HOME funding or from the State. Mr.Johnson said that the HOME funding has been very effective in leveraging projects with the Housing Authority; and added that they usually hire consultants to facilitate production of the RFP and the administration of selection process. Mr. Sandeen asked the typical size of the project and the number of units produced and what sort of leveraging they have been able to achieve through the trust in terms of funding percentage. Mr. Johnson said that currently the total production is limited—2, rehab of units is 10—12, modified units is 2. And as a Trust they have been able to leverage 15 to 20%of HOME funds towards the total project cost and the rest would be covered by either public housing or DHCD funding. Ms. Roy wanted to know if they were able to get the HOME funds without proposing any specific project. Mr.Johnson said that currently it is project specific, whereas historically it was not project specific. Ms. Rust added that the HOME funds are always used on a specific project; communities have funds allocated to them for exclusive use period and the funds can only be spent on specific projects for approvable expenses. Mr. Pressman asked if, in the statute governing the Trust, any of the powers of the trustees are subject to review by the Select Board. Mr.Johnson replied that for activities that are not connected to any Municipal property,the trust is autonomous. Mr. Pressman also asked if Natick AHT had any available Town land that could be used to put an RFO for. Mr. Johnson mentioned about the surplus school in South Natick. 3. Go Over Draft Declaration of Trust Ms. Kowalski shared a draft of the Declaration of Trust that was drafted with the help of the Town Counsel. Ms. Kowalski went over the powers of the trustees in detail. In the draft Declaration of Trust,there was a mention of requirement of prior approval from the select Board for any activity 3