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HomeMy WebLinkAbout2023-09-13-AHTBT-min Page 1 of 3 Affordable Housing Trust Meeting Minutes of September 13, 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; Bob Pressman, Kathryn Roy, Charles Hornig, Ingrid Klimoff Ms. Tung conducted a roll call to ensure all the 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 10:02 am. The meeting was recorded by LexMedia for future on-demand viewing. 1. Approval of August 30 meeting minutes Ms. Tung made a motion to approve the minutes of 8/30/23 AHT meeting. Mr. Erickson ‘so moved’. Ms. Payne 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). 2. Chair and RHSO/staff report Ms. Tung updated that the Trustee compensation for resident Trustees of low or moderate income was discussed at the Select Board meeting on 9/6/23. The trustee compensation was reviewed globally for all Boards and Committees not particularly for the AHT. The Select Board voted not to approve compensating Trustees. The members discussed the Trustee compensation process in conjunction with Article 11 of the Trust. Ms. Tung asked for a motion to give Ms. Tung the authority to approve individual expense of $150 or less that would include mileage, childcare related expense, anything that would create a barrier to a resident Trustee of low or moderate income to be able to attend the Trust meetings either in-person or remotely. Mr. Sandeen moved. Ms. Prosnitz 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). Ms. Kowalski provided the staff update. She shared that the warrant article to direct the resale fees and the rental monitoring fees to the Housing Trust had to be revised because the motion stated that the funds on balance and future payments would go to the Affordable Housing Trust. However, there were no funds on balance as they go to the Town general fund, not a stabilization fund. So, the warrant had to be amended to indicate the future resale fees and rental monitoring fees will go to the Housing Trust. Mr. Erickson indicated that if the fund Page 2 of 3 balance is $0 there is nothing to carry forward. Ms. Kowalski would update the warrant article as required for the Special Town Meeting in the Fall. Ms. Rust shared that there are administrative funds from the HOME program, about $3000 or $4000 a year. This normally goes to the Town. She asked members to consider if these administrative funds should go to the Housing Trust. Ms. Kowalski felt they should have a more deliberate conversation with the Assistant Town Manager for Finance on this, as Ms. Kosnoff would like expenses to then be paid by the Trust, and Ms. Kowalski recommended allowing more time to potentially pursue it for the annual Town Meeting. The Trustees agreed. Ms. Rust updated of her meeting with the LexHAB Executive Director , Sarah Morrison. There is an upcoming meeting on Nov 2nd from 5 – 7 pm to learn about the state of affordable housing, the challenges of developing affordable housing in Lexington, and what affordable housing groups are doing to address the challenges, future of what affordable housing might look like, what the neighboring towns are doing, and the possibilities for creative collaboration . Mr. Erickson or Ms. Payne will attend this meeting as a panelist on behalf of the Trust, and other Trustees will participate as possible. Ms. Rust shared that there may be another Housing round table coming up in Feb 2024 similar to the one in Spring 2023. 3. FY25 CPC Application Lowell/North St: Ms. Tung and Ms. Prosnitz attended the two-on two meetings with the Select Board members Suzie Barry and Jill Hai, and with Doug Lucente and Joe Pato. The meetings were extremely positive and the Select Board members were supportive of the Trust’s work. The Trustees discussed the Lowell/North St proposal further. Mr. Erickson expressed that what they have so far are very conceptual designs and a lot of inputs is required to get to the stage of an RFP for this project. Mr. Pressman referred to an affordable housing project in Lexington, a 2-acre lot on Woburn St, 3-storey building with parking in the basement, six affordable condos were sold there with unit sizes 1200 sq. ft and 1600 sq. ft. Mr. Pressman felt that was one of the best affordable housing projects in Lexington. Ms. Tung shared the Select Board members’ suggestions on the Trust exploring the possibility of some development on this parcel by the Town, and getting people’s input. While it is important, most of the Trustees feel it is too early to do this extensive work without any preliminary study of the parcel. They brainstormed on the steps required for the Select Board to recommend to Town Meeting their consensus for the project, and to propose a warrant article for Town Meeting to zone the Lowell/North St property to residential. Ms. Kowalski advised that if they take an approach of Friendly 40B then a zoning change won’t be required. The Trust could drive the efforts to see if at the Fall 2024 Town Meeting, the Town would authorize the Select Board to enter into a partnership with Affordable Housing Trust, and to do a land disposition agreement. This is a precursor to issuing an RFP for development. The Trustees discussed the funding possibilities, dependencies and timelines. They reviewed the ‘Potential Community Housing Development’ slide. Ms. Tung agreed to update the presentation based on the comments received. Ms. Kowalski agreed to help with drafting the coversheet. Pre-funding: Ms. Prosnitz and Ms. Tung shared that ‘Pre-funding the Trust’ was well-received by the Select Board and they felt the AHT should have pre -funding because without it, it cannot continue to act. The Select Board recognized that the Lowell/North St project would require lot of money, into millions of dollars. Mr. Erickson shared the updates from his meeting with the LexHAB Executive Director, Sarah Morrison, and from attending the LexHAB Board meeting. Ms. Morrison had explained the Pre- funding request process, that a lot of questions are asked, and substant ial support is required Page 3 of 3 to get pre-funding approved. The Trustees discussed the Pre-funding approach in detail, and preparation required for the Select Board meeting on Mon, Sept 18. Ms. Prosnitz gave a walkthrough of the revised Pre-funding presentation. The Trustees reviewed the ‘CPA Fund balance and Uses’ slide that conveys Housing has been historically getting very low CPA allocation in Lexington. They agreed to make updates to the slides to present it to the Select Board on Sept 18. The members brainstormed on what pre-funding amount to request, and how to present their request to the Select Board. Ms. Tung felt the Trust should file a joint application with Select Board for CPA funding. Mr. Erickson will work with LexHAB for a letter of support. Ms. Prosnitz and Mr. Erickson will work with the Housing Partnership Board for the letter of support. The Trustees agreed to ask for a range for the Pre-funding amount. Ms. Roy shared suggestions on how the Trust can present the categories and projects for which the funds will be utilized. The Trust agreed on the range of $3M – $4.2M for Pre-funding. Mr. Erickson made a list of categories for the slide. Ms. Kowalski agreed to put together all the details into a slide, presenting the amount and categories/projects on which the funds will be spent. Mr. Sandeen suggested a potential agenda item for the future. Former Secretary of Housing and Community Development Mike Kennealy has offered to bring affordable housing developers to meet with the Affordable Housing Trust to talk about the idea of what makes sense for them to do a 100% affordable housing project in Lexington, and what kind of subsidies they will be expecting to see. Ms. Tung agreed to include it on a future agenda. Ms. Tung requested a motion that if the Select Board on Monday, 9/18/23 supports the Trust on the Lowell St project then the Trust authorizes expenditures of funds on due diligence. The Trust authorize Ms. Kowalski to start looking into the consultants to do the work. Mr. Sandeen moved, Ms. Prosnitz seconded. The Trustees voted in favor of the motion 5-0-0, by a roll call vote (Erickson – yes, Prosnitz – yes, Tung – yes, Sandeen – yes, Payne – yes). 4. Potential town owned sites Not discussed this time. 5. New Business Not discussed this time. 6. Confirm future meeting dates The next two meetings will be on Sept 28 9 – 11 am, and Oct 12 at 10 am. 7. Adjourn Adjourned by roll call vote 12:08pm (Erickson – yes, Prosnitz – yes, Tung – yes, Payne – yes). List of documents reviewed 1. Potential Community Housing Development slide 2. Pre-Funding Affordable Housing Trust, presentation – longer and shorter versions 3. Slide on CPA Fund Balance and Uses