HomeMy WebLinkAbout2025-01-16-AHTBT-min-exe
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Affordable Housing Trust
Meeting Minutes of January 16, 2025 12:30 pm, Executive Session
Hybrid meeting on Zoom and attended in-person in Parker Room, Town Office
Building
Affordable Housing Trust Board Members present: Elaine Tung, Chair; William Erickson, Mark
Sandeen, Tiffany Payne, Linda Prosnitz
Staff present: Ragi Ramachandran, Administrative Assistant; Dana Bickelman, Director of
Human Services; Liz Rust, RHSO Director; Mina Makarious, Jillian Barger, Town Counsel
Ms. Tung chaired the Executive session that started at 12:43 pm.
Executive Session
Exemption 6: To consider the Value of Real Property – Parcel 68-44.
Ms. Tung moved to go into Executive session under Exemption 6 to discuss the value of real
property in connection with Lowell Street Parcel 68-44. The Affordable Housing Trust Chair
stated that an open session might have a detrimental effect on the negotiating position of the
Affordable Housing Trust. Mr. Erickson seconded. The Trustees voted in favor of the motion 4-
0-0, by a roll call vote (Erickson – yes, Sandeen – yes, Prosnitz – yes, Tung – yes).
Ms. Tung stated that the Trust will reconvene in the open session af ter the Executive session.
Ms. Tung reported that Causeway Development were concerned with timing of the funding
application deadline for next year and is hoping that the LDA will be signed sooner rather than
later.
The Trustees reviewed with Town Counsel the changes to the draft LDA. There was discussion on
financing contingencies, and the loan amount of $500,000 for the Lowell Street project.
Town Counsel stated that LDA is in its final form pending the changes mentioned.
Ms. Tung sought affirmation from the Trustees that if there are further minor changes to the LDA
because of changes to Affordable Housing Restriction that Town Counsel be allowed to
incorporate those changes. The Trustees agreed to delegating Ms. Tung and Ms. Prosnitz on
behalf of the Trust to manage the minor changes to the LDA and Affordable Housing Restriction,
and to finalize the documents with Town Counsel.
Mr. Makarious shared that the Select Board’s vote on the LDA was expected on Mon, Jan. 27th.
Ms. Barger explained the changes in the Affordable Housing Restriction document., Ms. Rust
clarified the income thresholds and how low-income housing tax credit regulatory agreement
work as administered by EOHLC.
The Trustees reviewed the project schedule from Causeway Development, and proposed
changes. Ms. Tung will ask Causeway to schedule community meetings outside of school vacation
week and adding a second community meeting.
Furthermore, Ms. Tung will obtain the updated project schedule from Causeway to attach as an
exhibit to the LDA.
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Ms. Tung will request Ms. Kowalski to send the final version of the LDA and Affordable Housing
Restriction to Select Board for their review and consideration.
Ms. Tung requested a motion to come out of the Executive session of Affordable Housing Trust
and to go back into the open session. Mr. Sandeen moved. Mr. Erickson seconded. The Trustees
voted in favor of the motion 5-0-0, by a roll call vote (Sandeen – yes, Erickson – yes, Payne –
yes, Prosnitz – yes, Tung – yes).
The Trust exited the executive session at 1:22 pm.
List of documents reviewed:
Causeway Development – Proposed Project Schedule