2023-01-19-AC-min - Laserfiche WebLink

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10(n) - Affordable Housing Trust Funding Ms. Fenollosa said that the town will be asked to appropriate $1,500,000 for the recently created Affordable Housing Trust (AHT). The Trust will distribute funds for the acquisition of properties, holding and other costs, hiring of consultants to prepare RFPs, preparation of housing needs assessments, etc. Access to funding via the AHT will allow for a timely response when suitable properties come on the market. There will be some startup costs to get the Trust up and running. Mr. Michelson asked whether all CPA funds intended for affordable housing would go to the AHT in the future, or whether the CPA might also continue to fund affordable housing projects directly. Ms. Fenollosa said that the CPC would give the AHT the money and they would determine how it would be spent. Mr. Michelson asked whether AHT would still fund LexHAB. Ms. Fenollosa responded in the affirmative. 10(o) - LexHAB - Property Acquisition Prefunding Ms. Fenollosa said that the town will be asked to approve $400,000 for prefunding to enable the purchase of a property to provide new affordable housing. 10(p) - LexHAB - Preservation, Rehabilitation & Restoration, and Installation of Solar Panels Ms. Fenollosa said that the town will be asked to approve $345,125 for the preservation and rehabilitation of 14 LexHAB units. The work will include kitchen/bath renovations; electrical upgrades; new doors; exterior painting to prevent damage; roof replacements; retaining wall work; and solar panels. Mr. Parker asked who will receive the credits for the installation of the solar panels. Mr. Pato said that LexHAB would likely get the credits because electric utility costs are included in the monthly rent paid by tenants. 10(q) - CPA Debt Service Ms. Fenollosa said that the town will be asked to appropriate $1,788,900 to cover debt service for previously approved CPA projects. 10(r) - Administrative Expenses Ms. Fenollosa said that the town will be asked to approve $150,000 for staff expenses, legal bills, Community Preservation Coalition dues, miscellaneous expenses, and $50,000 in land planning funds (including appraisals). ARPA Funds Mr. Pato said that the objective of the ARPA funding is to address direct harm from the pandemic, and to mitigate the resulting economic stress on local residents and businesses. The funds need to be spent within a 3-year window, of which about a year and a half has passed. At this point, the Select Board has committed a little more than half of the funding. Mr. Parker observed that the rate of funding should not necessarily correlate with the grant’s timing. The amount of $4,417,027 in ARPA funds has already been spent, and another $1,100,000 is committed for specific expenses. The remaining amount is $2,892,354. Three rounds of charitable grants have been carried out or started. ARPA spending approved so far has been allocated to pandemic control (7.3%), public health and safety (27.9%), economic stimulus (52.9%), food insecurity (1.1%), and housing (10.8%). Mr. Parker asked whether a food pantry has approached the town for funding. Mr. Pato said that he does not see the applications as they are handled by the staff. Mr. Bartenstein said that he