2023-12-07-AHTBT-min - Laserfiche WebLink

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Page 1 of 2 Affordable Housing Trust Meeting Minutes of December 7, 2023 12:00 pm 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, Kathryn Roy A work session of the Affordable Housing Trust was called to order at 12:04pm. Affordable Housing Trust Work Session 1. Discussion with Julie Creamer, Preservation of Affordable Housing (POAH) and Chair of the Milton Affordable Housing Trust The Trust discussed the following topics with Julie Creamer, CPA funding for affordable housing, the steps to project development, pre-development assessment, development financing, budgeting, the various subsidies that are available and will be eligible for a project. They reviewed in detail the process to issue an RFP, and the specifics to be included in an RFP. The y discussed 40B permitting process, LIHTC tax credit, MassWorks program and project-based vouchers. Ms. Creamer shared her experience from working on several affordable housing projects. She explained the developer’s perspective on costs and the various aspects they consider for unit mix, massing, the cost to operate and for maintenance. There was discussion on site studies, massing studies, abutters meeting, and stakeholder’s involvement. Ms. Creamer also stated that in order to get subsidized funding, the development would need to be all rental housing. Ms. Creamer then shared her experience on the Milton Affordable Housing Trust. She stated that the family production housing is looked upon favorably in towns with strong school systems. She felt a unit count of 30 – 50 units is required to avail higher subsidies, the funding subsidy is greater when the unit count is over 50 units, and that apartment style buildings with two to three stories are desirable over townhouse based on cost. The Trust reviewed the benefits from the funding subsidies allowed per project. For instance, applying for an infrastructure related subsidy towards wastewater treatment. The Trustees agree on the goal of delivering a meaningful project based on the Town’s needs. 2. Discussion with Michael Kennealy, former MA Secretary of Housing and Urban Development; Affordable Housing Developers – Chris Collins, First Atlantic LLC; Charlie Adams, Pennrose There was discussion on mixed income development with market rate units and affordable units; work force housing, and all affordable development. The Trust reviewed the RFP process