2023-08-30-AHTBT-min - Laserfiche WebLink

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Page 1 of 4 Affordable Housing Trust Meeting Minutes of August 30, 2023 10:00 am Hybrid meeting on Zoom and attended in-person in the Parker room, Town Office Building Affordable Housing Trust Board Members present: Elaine Tung, Chair; Mark Sandeen, William Erickson, Tiffany Payne, Linda Prosnitz Staff present: Carol Kowalski, Assistant Town Manager for Development; Ragi Ramachandran, Administrative Assistant Other attendees: Elizabeth Rust, RHSO; Bob Pressman, Margaret Heitz, Charles Hornig Ms. Tung conducted a roll call to ensure all the members of the AHT Board and members of staff present could hear and be heard. Ms. Tung chaired the hybrid meeting and called the meeting to order at 10:01 am. The meeting was recorded by LexMedia for future on-demand viewing. 1. Approval of August 9 meeting minutes The AHT Board reviewed the draft minutes of the meeting held on 8/9/23. The minutes were approved as amended. The Trustees voted in favor of the motion 5-0-0, by a roll call vote (Erickson – yes, Tung – yes, Sandeen – yes, Payne – yes, Prosnitz – yes). 2. Chair, Select Board liaison, Committee liaison and RHSO/staff report This topic will be reviewed the next time. 3. The Resale Fees Warrant Article Ms. Kowalski and Ms. Rust explained the Resale fees. The Resale fees is for affordable housing ownership units, and is included in the deed rider. It’s capped at 2% of the sales price. There is a total of 26 Affordable housing ownership units in Lexington, and there were two resales in the last ten years. Presently, the Resale fees go to the Town general fund. The RHSO administers the resales as part of its annual contract with the Town, and the amount of projected incre ase in ownership units is expected to be very small. Ms. Rust advised that the Trustees could pursue having the resale fees directed to the Affordable Housing Trust, as it is a revenue from affordable housing in the Town. The members assessed and discussed the resale fees, and the rental assistance monitoring fees. Ms. Tung made a motion that the Trust requests both the resale fees from Affordable Housing ownership units and Rental assistance monitoring fees be directed to the Affordable Housing Trust, and this be a warrant article for Fall Town Meeting. Mr. Sandeen seconded. The Trustees voted in favor of the motion 5-0-0, by a roll call vote (Erickson – yes, Prosnitz – yes, Tung – yes, Sandeen – yes, Payne – yes).