HomeMy WebLinkAbout2024-09-30-AHTBT-min
Page 1 of 2
Affordable Housing Trust
Meeting Minutes of September 30, 2024 12:30 pm
Hybrid meeting on Zoom and attended in-person in Parker room, Town Office
Building
Affordable Housing Trust Board Members present: Elaine Tung, Chair; Mark Sandeen, Linda
Prosnitz
Absent: William Erickson, Tiffany Payne
Staff present: Ragi Ramachandran, Administrative Assistant
Ms. Tung chaired the hybrid meeting and called the meeting to order at 12:33 pm.
1. Approve Meeting Minutes
The meeting minutes approval was postponed to next meeting.
2. Chair, Select Board, Board/Committee Liaison and RHSO/staff report
Ms. Tung shared the LexHAB liaison report received from Mr. Erickson. LexHAB’s meeting last
week was conducted as a board meeting of a 501(c)(3) corporation. LexHAB intends to follow the
general rules of the town with open meeting procedure, including participation of the public and
executive session. Mr. Erickson gave an update to the LexHAB Board on the status of the RFP for
Parcel 68-44.
Mr. Erickson stressed the need for a coordinated effort between the Affordable Housing Trust,
LexHAB and Lexington Housing authority for FY26 CPC application. Ms. Tung has requested
LexHAB Executive Director, Sarah Morrison, to come up with a budget plan for next 5 years in
connection with LexHAB’s anticipated funding requests to the AHT, and is hoping to have it
before Oct. 8. Mr. Erickson will follow up with Ms. Morrison.
3. Lowell Street Parcel 68-44
Ms. Tung explained the due diligence related to Causeway Development which was completed
last week. The Trustees spoke with the three references that were provided in Causeway
Development’s proposal as well as an additional three lender references requested by the Trust.
The references were highly complimentary of Causeway Development and recommended
Causeway Development in terms of its ability to analyze financial data, manage construction
costs, and complete projects on time and within budget.
Kathryn Roy asked if the Trust was able to check in with references that were not provided to
them by the developer. Ms. Tung responded that the Trustees did and found them to be positive.
The Trustees reviewed the draft recommendation to the Select Board. They suggested changes
and agreed to submitting the revised recommendation. The Trust will present its
recommendation to the Select Board at the Select Board’s meeting on Oct. 7 along with a
presentation by Causeway Development.
The neighbors and abutters, the Town Boards, Committees and Commissions and the Town
Meeting Members who were notified before of the RFP, will be notified of the upcoming Select
Board’s discussion on Oct. 7.
Page 2 of 2
Ms. Tung requested that having completed due diligence and reference checks, the Affordable
Housing Trust recommend to the Select Board the selection of Causeway Development as the
developer in connection with the Lowell Street Parcel 68 -44 RFP, and authorize the Affordable
Housing Trust Chair to forward the recommendation as discussed in the Affordable Housing
Trust meeting. Ms. Prosnitz moved. Ms. Tung seconded. The Trustees voted in favor of the
motion 3-0-0, by a roll call vote (Tung – yes, Sandeen – yes, Prosnitz – yes).
4. Adjourn
Ms. Tung requested a motion to adjourn the Affordable Housing Trust meeting. Mr. Sandeen
moved. Ms. Prosnitz seconded. The Trustees voted in favor of the motion 3-0-0, by a roll call vote
(Sandeen – yes, Tung – yes, Prosnitz – yes).
The meeting adjourned at 12:58 pm.
List of documents reviewed:
1. Parcel 68-44 – Draft Recommendation to the Select Board
2. Parcel 68-44 RFP Evaluation Team’s Summary of Causeway Development