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HomeMy WebLinkAbout2026-06-18-AHTBT-min.pdf Page 1 of 3 Affordable Housing Trust Meeting Minutes of June 18, 2026, 11:00 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, Linda Prosnitz, Tiffany Payne (joined at 12:07 pm during item #3) Staff present: Ragi Ramachandran, Administrative Assistant; Liz Rust, RHSO Executive Director Ms. Tung chaired the hybrid meeting and called the meeting to order at 11:07 am. 1. Approve Meeting Minutes The meeting minutes approval was postponed to next meeting. 2. Chair, Select Board, Board/Committee Liaison and RHSO/staff report Mr. Erickson reported LexHAB’s discussions on differences between State requirements and Lexington’s bylaw requiring the owner to be living in one of the two units involving an ADU unit. Ms. Rust shared that RHSO was working on marketing LexHAB’s Ready Renter program and that the four affordable units at The Lex Residences on 93 Bedford St were high in demand with the buyers. Ms. Prosnitz shared for Housing Partnership Board report that Lexington was accepted to CHAPA’s Municipal Engagement Initiative and that a group of 4 members will focus on form- based zoning along with other items as part of this initiative. The HPB reviewed the 80 Bedford Street MBTA development proposal and there was discussion on an Affordable Housing Overlay District. Ms. Prosnitz stated that Margaret Heitz has resigned from the Housing Partnership Board. Ms. Tung stated that the revisions by the AHT to MAPC MAHT report were submitted. Ms. Tung shared the update from Planning Board meeting that the Planning Board did not agree to change the allocations to the affordable unit bedroom count mix for the 5–7 Piper Road development. The Trustees voted to approve payment of two invoices from Bonz and Company regarding affordable unit buydown analyses. Mr. Erickson moved that the Affordable Housing Trust authorizes the payment of the two FY26 invoices each in the amount of $825 for a total of $1,650 from Bonz and Company. Ms. Prosnitz seconded. The Trustees unanimously voted ‘aye’, 4-0, in favor of the motion (Erickson – yes, Sandeen – yes, Tung – yes, Prosnitz – yes). Ms. Tung stated that she will be attending MHP’s Housing Institute on June 25, 2026. Ms. Tung stated that the Historical Commission voted to add Parker Manor to the cultural resources survey with a 21-month demolition delay. The Trustees discussed the impact to the 11 affordable units owned by LexHAB and the Lexington Housing Authority, with 28 units total from this property on the SHI. Bob Pressman commented that while internal rehabilitation of Parker Manor units would likely be approved; external modifications would require permission. Mr. Pressman stated that there were questions about energy-efficient window standards. Page 2 of 3 Mr. Sandeen shared that there will be a ribbon cutting at The Lex Residences at 93 Bedford Street on July 9, 2026, at 3:30pm. 3. AHT Form Application for Funding Ms. Prosnitz presented the draft AHT application form and excel spreadsheets containing pro formas for development and operating costs. The Trustees reviewed the documents and shared their feedback. Mr. Erickson raised concern about the requirement for applicants to arrange for an initial conversation with a Trust member before submitting the application. Instead, he suggested a pre-app process like EOHLC's approach to screen projects initially. The Trustees refined the criteria for evaluating proposals related to affordable housing development and preservation. Ms. Tung presented her changes to the document emphasizing the importance of preserving and creating affordable housing, fostering diversity, equity, and inclusion, and using sustainable design practices. Questions were raised about the inclusion of family-sized units and buy-downs in the funding criteria. There were discussions about whether buy-downs should be included. The group discussed the scope of financing options, considering whether to include permanent financing and rehabilitation in their offerings. They decided to clarify and refine the language to better reflect the Trust’s current financial capabilities and priorities. Ms. Prosnitz agreed to revise and simplify the funding application form and excel pro forma spreadsheets based on the discussions and feedback from all Trustees and circulate revised version for final approval. Ms. Ramachandran will work with IT department to get Ms. Tung access to the Affordable Housing Trust mailbox, affordablehousingtrust@lexingtonma.gov. 4. Strategic Planning: Goals and Strategies Mr. Sandeen provided a summary of the Strategic Plan Development presentation from the May 21, 2026, AHT meeting, highlighting the need for focused goals and strategies rather than attempting multiple initiatives simultaneously. The Trustees considered whether preservation should be prioritized in the near term versus focusing on creating new units. There was discussion on leveraged versus unleveraged approaches for housing development projects. The group agreed to prioritize leveraged opportunities when they are available, but not to ignore unleveraged opportunities that could still provide value to the town's affordable housing inventory. The Trustees agreed to the Affordable Housing Trust’s three Strategies/Goals to be 1. Preserve/Modernize Existing Affordable Housing, 2. Create More Affordable Housing, 3. Build the Financial Strength of the Trust. They agreed that they need to develop specific actions and yearly goals under each strategy. There was discussion about the financial feasibility of achieving housing goals . There were concerns raised about current funding levels and the need for additional resources. The Trustees will consider and discuss, at a future meeting, the maximum acceptable per-unit subsidy level for affordable housing projects. Ms. Payne proposed that the Trust should monitor impacts of voucher reductions and increased housing cost burdens. The Trustees agreed to send Ms. Ramachandran their proposed strategies and actions under each of the three main goals (preservation, creation, financial strength) for the Trust’s strategic planning, including thoughts on what is achievable and realistic. Ms. Ramachandran will compile the inputs from all Trustees and share a consolidated draft for next meeting. Page 3 of 3 Bob Pressman commented that there should be a way for the Trust to identify properties in town that are available for purchase, to explore affordable housing potential in those properties. 5. FY2027 Goals and Strategies The Trustees reviewed AHT’s FY26 goals and strategies and proposed revisions to the document. The group discussed distinguishing between high-level goals and specific action items. In the context of the strategic plan, the Trust discussed presenting high-level goals to the Select Board while maintaining detailed implementation plans as separate documents. Ms. Tung will send revised FY27 AHT goals (with high-level goals and no detailed bullets) to Select Board and request to appear before them for approval. The Trustees agreed that the Trust should maintain a separate internal action/implementation plan document with detailed strategies and actions for Trustee use. Ms. Tung will continue to work on rental housing inventory and gap analysis as part of data-driven decision-making goals. 6. LexHAB ADU and Renovation Grant Commitment Letter Mr. Erickson recused himself from the discussion. The Trustees reviewed the changes to the draft AHT commitment letter and agreed to sign the final LexHAB commitment letter. Ms. Tung requested a motion for the Affordable Housing Trust to approve the final version of the AHT Commitment Letter to LexHAB, as discussed in today’s meeting. Mr. Sandeen moved. Ms. Prosnitz seconded. The Trustees voted in favor of the motion 4-0-0, by a roll call vote (Prosnitz – yes, Sandeen – yes, Payne – yes, Tung – yes). Ms. Ramachandran will coordinate with Ms. Tung for LexHAB’s signature on the commitment letter. 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 not 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 (Erickson – yes, Payne – yes, Prosnitz – yes, Sandeen – yes, Tung – yes). The Trust exited the open session at 1:18 pm. List of documents reviewed 1. AHT Draft Funding Application 2. AHT Draft Funding Application BUDGETS 3. Affordable Housing Trust Strategic Plan Discussion 5-2026 4. Unified AHT Housing_Goals_and_Strategies 7.2025 - FINAL