2023-10-26-AHTBT-min - Laserfiche WebLink

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Page 1 of 4 Affordable Housing Trust Meeting Minutes of October 26, 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; Kathryn Roy, Bob Pressman, Bob Burbidge, Lester Savage, Eric Michelson, Charles Hornig Ms. Tung conducted a roll call to ensure all 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 10:05 am. The meeting was recorded by LexMedia for future on-demand viewing. 1. Approval of October 10 meeting minutes Ms. Tung shared her updates to the October 10 minutes. Ms. Tung asked for a motion to approve the minutes of 10/10/23 AHT meeting, as amended. Mr. Sandeen moved. Mr. Erickson seconded. 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). Meeting minutes approved. 2. Chair, Select Board, Board/Committee Liaison and RHSO/staff report Ms. Tung submitted a written testimony to the State on the Transfer tax legislation , that is currently before the house and Senate. Mr. Erickson and Ms. Payne will attend the LexHAB roundtable on Nov. 2nd. Mr. Sandeen reported on the Housing feasibility study presentation to Select Board. It was insightful and well received. Mr. Sandeen suggested including a note on the final presentation that similar economics would apply for the Lowell/North Street project. Ms. Kowalski will be meeting with the consultants to identify the scope for the feasibility analysis of Lowell St/North St site. Mr. Sandeen would like to know the economic model for a lower unit count project on Lowell St/North St site. Ms. Tung asked if the Trust needs to appropriate funds for housing feasibility study of Lowell St/North St site. Ms. Kowalski clarified it is not required at the moment. 3. Potential Real Estate Purchase The Trust brainstormed on their policy for a potential real estate purchase – if a developer approached the Trust with a funding request to purchase a property, how would they administer the funds and what would it involve.