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3 meet people at every income level. There are currently no deed restrictions in place but that LexHAB has rented to people of all AMI ranges. Mr. Horton asked what was the timeframe for the implementation of LexHAB as a 501(c)(3), and Ms. Morrison responded that the transition takes place with the legislative cycle, and as the State Representatives have made it clear that the process would take approximately two years, she would be “pleasantly surprised if it didn’t.” Mr. Horton followed up by asking if there are any other towns with relevant experiences. Ms. Morrison explained that LexHAB is unique in terms of affordable housing organizations. Ms. O’Brien asked how LexHAB’s fundraising goals have changed with the possible transition to a 501(c)3. Ms. Morrison stated that nonprofits’ (even affordable housing nonprofits’) most reliable source of income is individual donations. Ms. Morrison went on to explain that currently LexHAB’s budget is $800,000.00 and $35,000.00 come from private donations. Ms. Morrison also explained that residents have in the past offered to donate their homes to LexHAB, and that she would like to see that expanded. Mr. Creech stated that he had previously sent Ms. Morrison questions regarding her presentation and that those answers should help save a great deal of time at Town Meeting, especially for those members who may not have been able to view this presentation. Mr. Sandeen added his support and those of several other Select Board members and he said that he can’t wait to see this motion passed. Mr. Beuttell also added his support to the Article, as did Ms. Krieger, who also asked if there were any concerns about the home rule petition , given Lexington’s shaky recent history of passing those petitions. Ms. Morrison said that LexHAB is not taking anything for granted and that this motion could pass but could very well also die at Town Meeting. Ms. Walker commented that she supports the Article “500%,” but also added that there needs to be a differentiation of terms, especially when AMI levels are concerned. Ms. Walker went on to say that the public is largely unaware about how much a person needs to earn to afford a one-bedroom apartment in Massachusetts and that the term “affordability” is being used in a way that could be counterproductive. Mr. Pressman commented that LexHAB can retain the emphasis on those at the lowest levels of AMI and that LexHAB could seek a support grant from the CPC to help it in a fiscally sound way. He also stated that the CPC has a large reserve of funds that can be used to help those at the lowest AMI spectrum. After a motion was duly made and seconded, the CPC conducted a roll call vote (8-0-1) to support Article 14. Establishment of an Affordable Housing Trust: Gretchen Reisig and Kathryn Roy introduced Article 12, the establishment of an affordable housing trust in Lexington. Ms. Reisig explained to the Committee what exactly an affordable housing trust is and specifically how it could benefit the Town of Lexington. Ms. Reisig also described the extent of the affordable housing crisis in Lexington. Ms. Reisig explained that in the past decade Lexington created 41 affordable units, while losing 41 group home units, and that since 2011 there have been no additional SHI units procured. Ms. Reisig also explained that of the over 11,800 homes in Lexington , only 663 are “affordable,” underlying the need for a dynamic funding entity like an affordable housing