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HomeMy WebLinkAbout2023-10-26-AHTBT-min Page 1 of 4 Affordable Housing Trust Meeting Minutes of October 26, 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; Kathryn Roy, Bob Pressman, Bob Burbidge, Lester Savage, Eric Michelson, Charles Hornig Ms. Tung conducted a roll call to ensure all 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 10:05 am. The meeting was recorded by LexMedia for future on-demand viewing. 1. Approval of October 10 meeting minutes Ms. Tung shared her updates to the October 10 minutes. Ms. Tung asked for a motion to approve the minutes of 10/10/23 AHT meeting, as amended. Mr. Sandeen moved. Mr. Erickson 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). Meeting minutes approved. 2. Chair, Select Board, Board/Committee Liaison and RHSO/staff report Ms. Tung submitted a written testimony to the State on the Transfer tax legislation , that is currently before the house and Senate. Mr. Erickson and Ms. Payne will attend the LexHAB roundtable on Nov. 2nd. Mr. Sandeen reported on the Housing feasibility study presentation to Select Board. It was insightful and well received. Mr. Sandeen suggested including a note on the final presentation that similar economics would apply for the Lowell/North Street project. Ms. Kowalski will be meeting with the consultants to identify the scope for the feasibility analysis of Lowell St/North St site. Mr. Sandeen would like to know the economic model for a lower unit count project on Lowell St/North St site. Ms. Tung asked if the Trust needs to appropriate funds for housing feasibility study of Lowell St/North St site. Ms. Kowalski clarified it is not required at the moment. 3. Potential Real Estate Purchase The Trust brainstormed on their policy for a potential real estate purchase – if a developer approached the Trust with a funding request to purchase a property, how would they administer the funds and what would it involve. Page 2 of 4 Mr. Burbidge and Mr. Savage shared their feedback on how LexHAB’s past requests were processed with the Town. They did not have a grant agreement. There was wording in the deed that restricts LexHAB from selling the property. Mr. Pressman shared how the requests were processed for a variety of LexHAB projects over the years. A unit purchased using CPA funds must be on the SHI. Ms. Kowalski and Ms. Rust suggested a grant agreement initially, and a mortgage at closing to be forgivable at the recording of the restriction/regulatory agreement once the units were on the SHI. It would protect the Trust funds, and give the Trust some kind of assurance for the restriction to be recorded on the units and to ensure they were added to the SHI. LexHAB questioned the need for mortgage. They wondered why an agreement can’t be recorded with the purchase and a restriction put on the deed at that point, which would negate the need for mortgage. Everyone agrees the process should be simple and straightforward, and not undergoing huge legal fees. Ms. Prosnitz, Ms. Tung, and Ms. Kowalski will meet with the Town counsel on Oct 27 to get their advice on this matter. 4. Warrant Article 7 The Trust decided to recommend that the Select Board indefinitely postpone Town Meeting warrant article 7. This article is for resale fees and rental monitoring fees that were currently coming to the Town to be directed to the Trust account. Mr. Erickson moved that the Affordable Housing Trust recommend the Select Board indefinitely postpone warrant Article 7. 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). Motion passed. 5. Housing Feasibility Study Housing Needs Assessment: A $10,000 community planning grant was approved to conduct the housing needs assessment. There were discussions on what would the Housing needs assessment comprise of, the scope and expectations. Ms. Rust stated the needs assessment will not start until late Spring. Ms. Kowalski suggested reaching out to the Chair of Housing Partnership Board, Disabilities committee, LexHAB director, Lexington Housing Authority, and Council on aging to designate someone to share their inputs, and contribute to the needs assessment scoping. Ms. Payne suggested including the Human Services department, and School social workers because they have insights on the family needs and the needs of the town. 6. CPC Application – Status Ms. Tung updated that the Select Board has endorsed Housing Trust’s $3.2M application to CPC. The Trust gave a presentation to CPC on Oct 19 on the Trust’s upcoming proposed funding request. Mr. Pressman shared CPC’s direction for a possible policy that they will be voting on at the next CPC meeting, that ‘CPC will receive and consider all applications that are eligible within the parameters of the CPA’. There were discussions around why this had to be called out specifically as this was a general policy in place. The Trust reviewed CPC’s proposed Community Housing Funding Policy. They were curious on why a specific policy was needed with respect to housing applications that seemed to simply reflect existing CPC policy for funding all categories of CPA-eligible activities. The Trust reviewed the slide on anticipated requests to AHT for Funding. This slide will be part of the CPC application. It shows the number of requests the Trust anticipates receiving over 5 Page 3 of 4 years. It is a justification for why they are requesting from CPC a large amount of CPA funding. The Trust brainstormed on the details within the slide. The Trust worked on the CPA application and continuation sheet. They felt strongly that they should emphasize in their application ‘the unmet need for housing in Lexington’. Ms. Kowalski updated the fillable form and continuation sheet, in consultation with the Trust. The Trust decided to submit the CPC application before the Nov 1 deadline. After the completed application is submitted to CPC, the Trust will be contacted to set up a meeting time to review their application. Mr. Sandeen moved that Ms. Kowalski and Ms. Tung be authorized to sign an application to CPC that is amended, as discussed in this meeting. 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). Motion passed. The working groups have not met yet. 7. Lowell Street Project Update and Planning Ms. Kowalski provided an update on Lowell St/North St parcel 68-44. The wetland delineation is complete, and the reports have just come in. The Engineering firm will be starting work on the existing conditions, survey. The Phase 1 scope is approved and they are starting work. Town Counsel is working on the Title search. The AHT will conduct a site visit of parcel 68-44 on Oct 31 9:30 – 10:30am. Ms. Tung expressed an interest for a 5-minute promotional video interviewing people who were actually in need of housing as well as housing advocates, to show at the beginning of their presentation to housing groups and stakeholders. The Trust weighed in on how this could be done. Ms. Payne agreed to assist with the video. Ms. Kowalski will check with the Economic Development office on who could do short videos. The Trust reviewed and discussed the timeline to spring Town Meeting. 8. Guidelines and Programs (Leveraging) Not discussed this time. 9. Governor’s Housing Bond Bill Not discussed this time. 10. New Business Not discussed this time. 11. Confirm future meeting dates The next meeting will be on Nov. 9 at 10 am. 12. Adjourn The meeting adjourned at 12:23 pm by a roll call vote (Erickson – yes, Prosnitz – yes, Sandeen – yes, Tung – yes, Payne – yes). Page 4 of 4 List of documents reviewed: 1. CPC Community Housing Funding Policy 2. Anticipated Requests to AHT for Funding – slide 3. CPA Application – fillable form 4. CPA Application – continuation sheet 5. Timeline to Spring Town Meeting