HomeMy WebLinkAbout1984-06-20-LEXHAB-min.pdf RECECTAMENIVEp -e. k / cx
` 3 A 2 6 '984 LEXHAB
Minutes of the Meeting of June 20, 1984
Present Jean Gaudet, Dave Eagle, Bill Kennedy, Don Wilson, Bill Hays; Bea Phear
The Meeting was called to order at 8 25 p m.
Unit Selection
The letter from the developer notifying LexHAB of their purchase option for up
to ten units in the Muzzey School was mailed on June 18, 1984 and received on
June 19, 1984 by Chairman Jean Gaudet Mr Noyes requested information on which
units were selected and respective energy and bath options The selection of
other options may be delayed until fall.
Dave Eagle moved, Bill Kennedy seconded, that the ten units selected be those that
were discussed at the meeting of May 22, 1984, with the energy option included for
all ten units and no bath option for any unit Voted unanimously to select the
following units
Three bedrooms #104
Two bedrooms # 106, #109, #116
One bedroom. #221, #224, #226, #347, #349, #358
Bea will prepare a letter for Jean Gaudet' s signature to so notify Mr Noyes
Jean will inform the Board of Selectmen of LexHAB's choices
Investment Decisions
The Town has received $238,000 from the developer for the sale of the building and is
holding this money for LexHAB The Treasurer, Dave Eagle, must get bonded, and then
the money will be handed over The Town invests in the Mass Municipal Depository
Trust which was created for municipal and housing authority investors, but permission
has been received for LexHAB to use this as well It has a fluctuating interest
rate, set weekly, currently at 10 1/4 percent, and check writing priviledges
Dave Eagle has investigated other investment possibilities as well At Depositer's
Trust a thirty day investment is at 10 1/4 % and a sixty day is at 10 7/8% Dave is
also thinking about putting some of the money in a NOW account for flexibility
Jean suggested he speak with Frank Parrish, who is a member of the Trustees of Public
Trusts and also a financial consultant
Dave wants a second signatory to be on the account with him. Jean will do this
It was decided to postpone any specific investment decision until the next meeting,
when more information will be available. At that time LexHAB members will vote on
investment of the funds
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Scheduling of interviews
Jean talked to Kirk Noyes, who says they will be ready to go ahead with interviewing
the next round of buyers as soon as they receive the list of LexHAB units She
would like to have at least three LexHAB members at each interview, and suggests setting
aside two Saturdays in a row and splitting the dates among the committee Dates
selected were
July 7 Jean Gaudet, Don Wilson
July 14 Jean Gaudet, Bill Kennedy (Dave Eagle maybe)
Jean will talk to the other members Dave is also willing to do several evenings
instead.
Jean will talk to Marilyn Mairson next week to stress the need for papers to be in
order in advance of interviews Prospective buyers should have completed their
affidavits and provided tax returns in advance (1982 & 1983) and provided these in
time for duplication and distribution to committee members
The list of questions used for the first 21 buyers was discussed. Jean suggested
adding a statement explaining the fact that there will be subsidized rental units
in the building, and Bill Kennedy suggested asking if they understand the guidelines
as they pertain to future rental.
Letter to Prospective Tenants
Bea distributed a draft letter for people who have expressed interest in renting It
was approved. All those who place their name on the rental list will get this letter
Fair Housing
Bea informed the committee that Bob Hutchinson had asked her to distribute copies of
the Fair Housing report and remind the committee of the Town's Fair Housing Resolution.
Jean asked if LexHAB could limit rental to Lexington residents Don Wilson said that
the Housing Authority was allowed to have Lexington preference in its publically
funded units and was allowed to be exclusively Lexington at Parker, since there was
no bonding by federal or state government. He thought Lexington limitation was the
intent of Town Meeting Bill Kennedy thought it was for both people living and
working in Lexington.
By-Laws
Bill Hays will mail copies of the Draft By-Laws to the committee for discussion at
a future meeting
Next Meeting
The next meeting is scheduled for Wednesday morning, 7 30 a.m. in room G-15, June 27, 1984_
Executive Session
Upon a motion duly made and seconded (Kennedy, Wilson) it was voted by roll call vote
with Gaudet, Kennedy, Eagle, and Wilson all in favor to adjourne to executive session
for the purpose of discussing an individual buyer, with no plans to return to open
session.
Respectfully Submitted, Beatrice Phear