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HomeMy WebLinkAbout2022-09-28-AHTSC-minThe Affordable Housing Trust Study Committee (ad hoc) Meeting Minutes of September 28, 2022 Affordable Housing Trust Study Committee members present for the public meeting: Betsey Weiss, Jeri Foutter, Gretchen Reisig, Tara Murphy, Carol Marine, Linda Prosnitz. Lexington Staff present for the public meeting: Carol Kowalski, Assistant Town Manager for Development; Kiruthika Ramakrishnan, Administrative Assistant. Non-voting liaison of the Select Board: Mark Sandeen Other Attendees: Elizabeth Rust Ms. Reisig conducted a roll call to ensure that all the members of the Affordable Housing Trust Study Committee (ad hoc) and members of staff present could hear and be heard. Ms. Reisig chaired the meeting and called the meeting to order at 4:04 pm. The meeting was recorded by LexMedia for future on-demand viewing. 1. Select board threshold for trust purchase / borrowing approval Ms. Reisig proposed that the committee come up with a way to calculate the threshold, beyond which Select Board approval would be required , for purchase powers. Ms. Rust said that the assessors provide the fiscal year median sales price on request and asked Ms. Kowalski to have Town Counsel change this in the Declaration of Trust. Ms. Weiss moved that the Affordable Housing Trust Study Committee use the assessor’s prior fiscal year median sales price as the threshold, for the purposes of borrowing and purchasing, beyond which the Select Board approval would be required. The motion was seconded by Ms. Reisig. The Affordable Housing Trust Study Committee voted in favor of the motion 5-0-0 Roll Call Vote: MOTION PASSED UNANIMOUSLY. 2. Review the draft Declaration of Trust Ms. Kowalski informed the committee that she presented the bylaw that was updated by the committee, to Town Counsel. Ms. Kowalski added that Town Counsel confirmed the draft Declaration of Trust with the bylaw decisions. Ms. Weiss brought a few discrepancies on the Declaration of Trust to the attention of the committee, which related to the compensation of the trustees. Ms. Rust clarified that it conforms with the standard language that is present in the Declaration of Trusts of other towns. The members also discussed the terms of the trustees, and the ability of a trustee to serve multiple terms. Ms. Kowalski said that she does not believe that the Declaration of Trust precluded any trustee for coming back for another term. Ms. Prosnitz reminded the committee about the staggered terms. Ms. Rust shared her experience on term limits leading to vacant positions for a long time. Ms. Prosnitz stressed the value of having trustees for extended terms, so that their knowledge and expertise can add value to the trust. Responding to Mr. Sandeen’s question regarding the duration of a typical project, Ms. Rust explained the timeline and processes of a typical project in detail. Ms. Kowalski asked Mr. Sandeen about the importance of term limits from the Select Board’s point of view. Mr. Sandeen said that it would benefit the committee to have term limits when approaching the Select Board. The committee discussed and decided that the clause should allow three terms for a trustee, so that they can serve an entire length of a project and in the interest of maintaining institutional knowledge. Ms. Weiss moved that the Affordable Housing Trust Study Committee approve the Declaration of Trust as amended. The motion was seconded by Ms. Reisig. The Affordable Housing Trust Study Committee voted in favor of the motion 6-0-0 Roll Call Vote: MOTION PASSED UNANIMOUSLY 3. CEC, CPC, Appropriations Committee follow up Ms. Reisig informed the committee that she had shared the documents prepared by the committee with CEC, CPC and the Appropriations Committee. 4. First Friday presentation 10/7 Ms. Reisig informed the committee about the upcoming presentation to the League of Women Voters on October 7th at the Community Center. 5. Informing TMMA - how to communicate and answer questions Mr. Sandeen gave details about the information session and the process of getting prepared to present to the Town Meeting Members Association. 6. Joint presentation with LexHAB to SB on 10/17 Ms. Kowalski briefed on the process of presenting to the Select Board and seeking their support and recommendation to Town Meeting on the warrant article. 7. Approval of Minutes The Affordable Housing Trust Study Committee reviewed the draft minutes of the meeting held on 08.14.22. Ms. Foutter moved that the committee approve the minutes of the meeting held on 08.14.22, as presented. Ms. Marine seconded the motion. The Affordable Housing Trust Study Committee voted in favor of the motion. MOTION PASSED. Adjourn Ms. Murphy moved that The Affordable Housing Trust Study Committee adjourn the meeting held on September 28, 2022. Ms. Marine seconded the motion. The Affordable Housing Trust Study Committee voted in favor of the motion 6-0-0 Roll Call Vote: MOTION PASSED UNANIMOUSLY. Meeting adjourned at 5:15 pm.