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HomeMy WebLinkAbout2026-05-07-AHTBT-min.pdf Page 1 of 3 Affordable Housing Trust Meeting Minutes of May 7, 2026, 10:00 am Hybrid meeting on Zoom and attended in-person in the Select Board Meeting Room, Town Office Building Affordable Housing Trust Board Members present: Elaine Tung, Chair; William Erickson, Mark Sandeen, Tiffany Payne, Linda Prosnitz Staff present: Carol Kowalski, Assistant Town Manager for Development; Ragi Ramachandran, Administrative Assistant Ms. Tung chaired the hybrid meeting and called the meeting to order at 10:03 am. 1. Approve Meeting Minutes The meeting minutes approval was postponed to next meeting. 2. Officer Elections Ms. Tung requested a motion that the Affordable Housing Trust approve the current officer slate to serve on the Affordable Housing Trust Board, Elaine Tung as Chair, Linda Prosnitz as Vice Chair, and Tiffany Payne as Clerk. Mr. Sandeen moved. Mr. Erickson seconded. The Trustees voted in favor of the motion 5-0-0, by a roll call vote (Payne – yes, Prosnitz – yes, Sandeen – yes, Erickson – yes, Tung – yes). 3. Chair, Select Board, Board/Committee Liaison and RHSO/staff report Mr. Erickson reported that LexHAB was exploring alternative housing options at the Vine Street site, including potentially building smaller units like ADUs, and would seek Trust funding if viable plans develop. They are considering this in the long term and there is no immediate funding request for the Trust. Ms. Prosnitz shared that the Housing Partnership Board will present the Board’s recommended Town Housing Goals and Strategies to the Select Board on May 11, 2026. The Trustees reviewed a draft letter Ms. Tung had prepared to submit to the Select Board. The group proposed revisions to the letter to request clarity on the public engagement process moving forward. Ms. Tung agreed to incorporate suggested revisions and forward the final draft letter to the Trustees for review. The Trustees decided not to send a formal letter to Select Board on behalf of the AHT since there would be no opportunity to hold a vote but instead allow individual members the choice to sign on to the letter. Bob Pressman commented that the Trust should have been a part of the housing policy discussions with Housing Partnership Board. 4. Finance Report Carolyn Kosnoff, Assistant Town Manager for Finance and Thomas Case, Finance Administrator , presented the Affordable Housing Trust fund balance summary memo. There was discussion on revenue and expenses, legal bills and planning fund allocation for MBTA buydowns. Page 2 of 3 Ms. Kosnoff agreed to provide quarterly financial statements to the Trust, with statements provided approximately 15 days after each quarter's end to accommodate posting delays. The group discussed financial reporting processes, audit processes and legal bill management. The Finance team clarified that the legal bills are coded and processed through the Select Board office. The audited financial statements for the Trust will be included in the Town's annual audit rather than as separate audit statements for the Trust. To a question on how to track future fund commitments, Ms. Kosnoff explained that formal contracts need to be entered into the system before funds can be properly encumbered into the financial system. The group reviewed the recorded Declaration of Trust document and the financial obligations to stay in compliance with the Trust operations. The Trustees requested an oversight of legal bills. Ms. Kosnoff stated that her department would forward bills monthly from Anderson and Krieger for the Trust’s review. Ms. Payne proposed designating a treasurer or point person for ongoing communication with the Finance department for fund tracking and oversight. 5. Pilot Rental Assistance Program The Trustees reviewed and provided detailed comments on the Pilot Rental Assistance Program materials, application and outreach documents. Ms. Prosnitz agreed to communicate requested changes (e.g., removal of referral requirement, clarification of program and application process, revision of eligibility language) to Metro West’s program administrator before the documents are finalized and distributed. Ms. Prosnitz will follow up with the program administrator to ensure the Pilot Rental Assistance Program guidelines and materials are revised to address concerns, and to confirm a timeline for rollout and flyer distribution. Executive Session Ms. Tung moved for the Affordable Housing Trust to go into Executive session under Exemption 6 to consider the purchase or lease of real property regarding MBTA Multi-Family Development Buy-downs. The Affordable Housing Trust Chair stated that, in her opinion, an open session would have a detrimental effect on the negotiating position of the Town and Affordable Housing Trust. Ms. Tung stated that the Trust will reconvene in the open session after the Executive session. Ms. Prosnitz seconded. The Trustees voted in favor of the motion 5-0-0, by a roll call vote (Payne – yes, Erickson – yes, Sandeen – yes, Prosnitz – yes, Tung – yes). Mr. Erickson stated that he will recuse himself from agenda item #6 discussions. The Trust exited the open session at 11:21 am. The Trust reconvened in open session at 12:09 pm. 6. LexHAB 2/2026 ADU and renovation funding application Russ Tanner from the LexHAB Board joined the discussion. There was discussion on the use of MassDocs for Affordable Housing Trust documents and the loan commitment with LexHAB. Ms. Kowalski raised concerns about document custody and ensuring municipal interests are represented. Mr. Tanner explained the benefits of using MassDocs, including cost savings and efficiency through standardized documents and shared attorneys. Mr. Tanner also explained the process the public lenders follow. Mr. Tanner suggested that the Trust contact Somerville Affordable Housing Trust or other relevant Trusts to learn how they handle document custody, access, and the MassDocs process Page 3 of 3 for Affordable Housing Trust loans. He also suggested that the Trust reach out to MassDocs attorneys to discuss representation of local interests and the process for reconciling multiple lender interests in MassDocs documentation. Ms. Tung will send an amendment to the funding letter to LexHAB, extending the deadline for the finalized commitment letter from May 15, 2026, to June 19, 2026. Adjourn: Ms. Sandeen moved to adjourn the Affordable Housing Trust Meeting. Ms. Payne seconded. The Trustees voted in favor unanimously by a roll call vote 4-0 (Sandeen – yes, Payne – yes, Prosnitz – yes, Tung - yes.). The meeting adjourned at 12:37 pm. List of documents reviewed 1. Draft letter to Select Board on Housing Partnership Board’s housing strategy presentation 2. AHT Fund Balance Summary, May 7, 2026 3. Recorded Declaration of Trust document 4. MassDocs Memo from LexHAB