HomeMy WebLinkAboutLexington Housing Assistance Board (LexHAB) - charge, 1983 LEXINGTON HOUSING ASSISTANCE BOARD, INC
Criteria for appointment in addition to the Board of Selectmen's Policies and
Procedures
1 ) Individual shall have had significant experience and activity in Town affairs
related to matters within the purvue of the LexHAB
2) It is highly desirable that the Board should include people with various
specialities including'
1 The structures and procedures of Lexington Town government
2. Low and moderate income housing
3 Accounting
4. Law
5 Development or construction
6 Real estate management
7 Architecture/Design
8 Structural/Civil engineering
9 Banking
CHARGE TO THE COMMITTEE _
The Housing Assistance Board is charged to act as the Town's representative in the
matter of the conversion of Muzzey School It shall
1 Monitor the developer' s marketing efforts
2 Monitor the buyer selection process
3 Monitor deed restrictions and, when authorized by Town Meeting,
renegotiate deed restrictions
4 Assist in marketing units for resale and exercise the Town's right
of first refusal If first refusal approval is not obtained LexHAB
will act as the Town' s representative in the repurchase of units and
will serve as a broker in the resale of restricted units
5 LexHAB will establish guidelines for the granting of waivers in
conformity with the Statement of Purpose in the Land Disposition
Agreement subsection 2 1 (d)
It shall , furthermore, acquire, lease and manage units at the Muzzey School with monies
assigned to it by Town Meeting It shall , with approval of the Board of Selectmen
1 Acquire mortgages as necessary
2 Establish rents and income restrictions
3 Oversee tenant selection
4 Establish such rules and regulations concerning use, occupancy and
other matters relating thereto as necessary to carry out this charge
It shall have proportional representation in the condominium association
It shall report periodically to the Board of Selectmen and shall file an annual report
to the Town Meeting
It shall investigate and implement further alternatives for the provision of low,
moderate and middle income housing as charged by the Board of Selectmen
LEGISLATION
The Town shall have a non-profit housing corporation, to be called the Lexington
Housing Assistance Board (LexHAB) , consisting of five voters of the Town, appointed
by the Board of Selectmen for terms of three years, except that the original appoint-
ments shall be One member appointed for one year, two members appointed for two,
and two members for three years Subsequent appointments shall be made annually by
the Board of Selectmen by May 31
Purpose to investigate and implement alternatives for the provision of low, moderate
and middle income housing in the Town of Lexington When authorized by the Board of
Selectmen, the Lexington Housing Assistance Board shall be empowered to
1 Acquire, hold, construct, renovate, reconstruct, equip, furnish, manage,
maintain, mortgage, loan, rent, lease, sell , convey and otherwise encumber
or dispose of property assigned to it for the sole end of carrying out
the purposes stated above
2 Receive and expend funds appropriated by the Town and from State and Federal
housing agencies and other sources, including gifts and bequests
3 Invest money and borrow when authorized by Town Meeting
4 Obtain bids and enter into contracts, subject to approval of Town Counsel
5 Establish and oversee rents and sale and resale prices , including deed
restricted limitations on resale prices
6 Establish and oversee income restrictions
7 Make rules and regulations concerning use, occupancy and other matters
relating thereto
8 Employ agents, managers, and employees
Adopted - April 11, 1983
Amended - December 19, 1983