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Page 1 of 2 Affordable Housing Trust Meeting Minutes of March 11, 2024 10:00 am Hybrid meeting on Zoom and attended in-person in Parker room, Town Office Building Affordable Housing Trust Board Members present: Elaine Tung, Chair; Mark Sandeen, Tiffany Payne, Linda Prosnitz, William Erickson Staff present: Liz Rust, RHSO Director; Ragi Ramachandran, Administrative Assistant Other attendees: Lester Savage, Bob Pressman Ms. Tung chaired the hybrid meeting and called the meeting to order at 10:01 am. Upon motion duly made and seconded it was voted 5-0 by roll call unanimously to go into Executive session under Exemption 6 to consider the potential purchase of real property. The Affordable Housing Trust reconvened in an open session at the conclusion of the Executive session at 10:48 am. 1. Approve Meeting Minutes Ms. Tung requested a motion to approve the minutes of 2/7/24, 2/15/24, and 2/22/24 AHT meetings. Mr. Sandeen moved. Ms. Payne seconded. The Trustees voted in favor of the motion 5-0-0, by a roll call vote (Sandeen – yes, Payne – yes, Prosnitz – yes, Tung – yes, Erickson – yes). Meeting minutes approved. 2. Chair, Select Board, Board/Committee Liaison and RHSO/staff report Ms. Prosnitz shared the update from the Housing Partnership Board that their letter of support for Article 33 will be sent out soon. Mr. Erickson agreed to coordinate with LexHAB to get the letter of support posted online. Ms. Payne updated that Melinda Walker will be the liaison from Lexington Housing Authority for the Housing needs assessment. Ms. Rust shared that the first meeting of the Housing Needs Assessment working group is anticipated in early April. 3. Affordable Housing Trust Work Session – Lowell Street and North Street The Trustees had a detailed discussion on their recommendations to Select Board for the RFP in terms of requirements and preferences for affordable housing development on parcel 68-44, so that the Select Board can review it at their meeting. The Trustees discussed the affordability requirements, housing development recommendations, building design and capacity, transit and parking, and financial feasibility for the project. They agreed to balance community input, financial feasibility, and tax credit requirements. The consensus was to have a developer who would work collaboratively with the Town, the development to be for income eligible households with household incomes averaging 60% Area Median Income with a mix of 1, 2 and 3-bedroom apartments. The development should be compatible with the existing architecture of the neighborhood. The selected developer should have experience working with Towns and public agencies, and be willing to e ngage with the community.