HomeMy WebLinkAbout2022-10-12-AHTSC-min
The Affordable Housing Trust Study Committee (ad hoc)
Meeting Minutes of October 12, 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 4:03 pm.
The meeting was recorded by LexMedia for future on-demand viewing.
1. Approval of Minutes
The Affordable Housing Trust Study Committee reviewed the draft minutes of the meeting held on
09.28.22. Ms. Murphy moved that the committee approve the minutes of the meeting held on
09.28.22, as presented. Ms. Foutter seconded the motion. The Affordable Housing Trust Study
Committee voted in favor of the motion 5-0-0 (Roll Call Murphy- yes, Marine- yes, Prosnitz- yes,
Weiss-yes, Foutter- yes). MOTION PASSED.
2. Review outreach meetings and presentations. Review next meetings and
next steps
Ms. Reisig gave a brief update to the committee about the outreach meetings with the Capital
Expenditure Committee (CEC), the Appropriations Committee, the Planning Board, and the League
of Women Voters. Response from most of the committee members has been positive and
supportive. Upcoming meetings include the Select Board and the Community Preservation
Committee (CPC) next week. Ms. Reisig discussed the Planning Board’s upcoming Housing
Workshop. The workshop is a community event where residents will discuss locating higher-density
housing in Lexington.
3. Further discussion of establishing a threshold for Select Board approval;
Borrowing AND Purchases
Ms. Reisig discussed with committee members what figure to use for the purchase threshold
required for seeking Select Board approval when the Trust wants to purchase property. Ms. Reisig
suggested using ‘Home of Median Value’ or ‘Home of Average Value’ for single-family homes as
listed in the Town’s Annual Report. Ms. Reisig shared that, according to Ms. Kosnoff, assessed
values are roughly within 10% of sales price. Ms. Reisig said that according to the Annual Report, in
2021, a ‘Home of Median Value’ was $1,009,000 and a ‘Home of Average Value’ was
$1,129,000. The members felt that the median figure was very low and average sales price be
considered. Ms. Reisig reported that upon further discussion with Ms. Kosnoff, the Town could
provide the Average Sales Price or the Median Sales Price based on data from the Assessor’s office
that is certified by the Department of Revenue.
Ms. Reisig shared slides explaining when the Trust must seek Select Board approval for a purchase,
also known as the purchase threshold. The committee discussed the contents of the slides and
agreed to use sales price rather than assessed value. Then, the committee agreed that the
threshold would be based on the average sales price of a single-family home from the prior fiscal
year rather than the median sales price.
Ms. Kowalski said that getting approval from the Select Board when the purchase price is higher
than the threshold allows can be done in Executive Session.
Ms. Weiss moved that the Affordable Housing Trust Study Committee vote that the Trust will
need Select Board approval for a purchase when the price is above the average sales price of a
single-family home from the prior fiscal year. This figure will be based on data certified by the
Department of Revenue. The motion was seconded by Ms. Marine. The Affordable Housing Trust
Study Committee voted in favor of the motion 5-0-0 (Roll Call Murphy- yes, Marine- yes, Prosnitz-
yes, Weiss-yes, Reisig- yes) MOTION PASSED UNANIMOUSLY.
4. Discuss the Committee’s recommendations for the initial appropriations, to
fund the Trust when it is passed
Ms. Rust suggested the committee discuss and come up with a range but be prepared to revise it
based on the future situation. Ms. Kowalski presented a timeline to the committee, outlining the
CPC and Town Meeting deadlines. Ms. Kowalski asked the committee to consider asking that funds
from the Affordable Housing Stabilization Fund, which include the Brookhaven payments in lieu, be
distributed to the to-be-formed Affordable Housing Trust.
5. Funding timelines to consider
Ms. Weiss suggested that the committee should put a request for CPC funds and it can be in a
placeholder till the Trust was approved, which might be soon after. Ms. Murphy agreed with
Ms. Weiss. Mr. Sandeen suggested that during the meeting with the Select Board on 10/17, the
committee should only request approvals on the existing proposals and once approved, inform the
Select Board about the considerations which will be brought before them in the near future. The
committee agreed to the suggestion. Mr. Sandeen suggested the same approach with CPC too.
6. Discuss Liaisons to the Trust’s Board
Ms. Reisig wanted the committee to consider a non-voting liaison for the to be formed Trust.
Ms. Foutter told the committee that the Select Board will appoint the liaisons and can be appointed
at any time. Ms. Kowalski agreed with Ms. Foutter and advised against adding it to the Declaration
of Trust or the by law.
7. Miscellaneous
Ms. Foutter suggested that the committee should reach out to the Town Meeting Members, listing
the salient points to review prior to the meeting. The committee agreed to the idea and decided to
send out post cards to all Town Meeting Members.
Adjourn
Ms. Murphy moved that The Affordable Housing Trust Study Committee adjourn the meeting
held on OCTOBER 12, 2022. Ms. Marine seconded the motion. The Affordable Housing Trust
Study Committee voted in favor of the motion 5-0-0 (Roll Call Murphy- yes, Marine- yes, Reisig-
yes, Weiss-yes, Foutter- yes ) MOTION PASSED.
Meeting adjourned at 5:35 pm.